Saad Ullah
Today Amazon has announced the creation of a new anti-counterfeiting department to bring those counterfeiters, which breach the terms and condition of Amazon by selling fakes in their shop, to justice.
The Anti-Counterfeiting division at Amazon is an international multidisciplinary unit that consists of retired US attorneys, experienced investigators and data analysts.
Amazon's main goal is to prevent counterfeit products from appearing in its store. The company will use special algorithms that can determine with up to 99.9% accuracy whether a product is counterfeit or not.
Amazon has a long history struggling with pinpointing counterfeit goods. In 2019, the company invested $500 million dollars on anti-counterfeit systems. During this time, the company blocked more than 2.5 million merchant accounts before they launched the first sale.
Every counterfeiter is on notice that they will be held accountable to the maximum extent possible under the law, regardless of where they attempt to sell their counterfeits or where they’re located Dharmesh Mehta, Vice President, Customer Trust and Partner Support, Amazon
The Internet giant Amazon interacts with many authorities. The company cooperates with such authorities as the National Intellectual Property Rights Coordination Center (USA), Europol (EU) and other law enforcement agencies which are connected to the field of intellectual property.
On the premarket on Wednesday, the share price is trading near its historical peaks. On Tuesday, the stock gained 1.86% and closed the day at $2,764.11.
Saad Ullah
