Amazon establishes ``anti-counterfeit exchange'' to stop counterfeit trading across the industry

Amazon announced the establishment of the `` Anti-Counterfeiting Exchange (ACX: Anti-counterfeit exchange) '' as an attempt to eliminate counterfeit goods by sharing information about counterfeit sellers throughout the retail industry. .

Amazon Announces Anti-Counterfeiting Exchange to Help Eliminate Counterfeits Across the Retail Industry | Business Wire

New today: ?????????️ Introducing the Anti-Counterfeiting Exchange, a new collaboration with participating stores that will help to identify and track fraudsters, allowing customers to shop with confidence and protect their purchases.

https://t.co/3x4oXeghE7 pic.twitter.com/x3uqTvUdlJ

— Amazon News (@amazonnews) April 20, 2023

Amazon launches program to identify and track counterfeiters | Reuters
https://www.reuters.com/business/retail-consumer/amazon-launches-program-identify-track-counterfeiters-2023-04-20/

ACX is an effort to make online shopping even safer, with the aim of stopping counterfeit sellers from continuing to sell across various platforms. According to Reuters, it mimics the credit card industry's data exchange program to find fraudsters and identify their tactics.

ACX allows you to anonymously provide the information of counterfeit sellers to our database and use the database to avoid dealing with bad actors. Through ACX, Amazon has already detected attempts by the same counterfeiter to create hundreds of accounts on Amazon and at least one other platform. Once this information is shared through ACX, all other ACX participating stores will be able to learn about the merchant and immediately stop the merchant from selling in their own store. It should be noted that whether or not to use ACX information and how to use it is up to each store's own judgment.

'To stop the counterfeit trade, we need to share information about confirmed counterfeiters to help the entire industry stop crime early,' said Dharmesh Mehta, Amazon's vice president of sales partner services. By leading the way in creating a solution for sharing information about known counterfeiters, we are empowering the entire industry to fight counterfeit crime, providing consumers and rights holders with greater peace of mind. I will.”

Daniel Castro, director of the think-tank Center for Data Innovation, said, “To combat illegal counterfeit networks, the active cooperation of private companies is essential. We called on retailers to play an active role in detecting and preventing fraudulent trade in counterfeit goods, and we are encouraged that Amazon and other retailers have responded to the call by establishing ACX.' I admire you.

Amazon also calls on other retailers and marketplace service providers to participate in ACX, aiming to strengthen the industry's collective efforts against counterfeit goods.