The Alliance for Gray Market and Counterfeit Abatement (AGMA), a non-profit organisation focused on intellectual property (IP) protection for the high-tech industry is warning that the counterfeit and illicit market in It is getting out of hand.
The Alliance has issued a report titled, “Brand Protection Insights from Industry Leaders in Grey Market, Counterfeit and IP Fraud Mitigation”, which spotlights the trends and challenges related to counterfeit, fraud, grey market risk and prevention, and supply chain security that are impacting the high-tech sector.
The report notes that E-commerce has been on a rapid growth trajectory, providing a large conduit for fraud. Fraudsters are savvier, sharing information among each other and producing counterfeit at an accelerated pace. Brand protection programs are being impacted in ways they never imagined, with increasing scope and scale. Mitigating counterfeits, reducing channel grey market and preventing various fraud are more crucial to brand survival than ever.
