Document Security Systems, Inc. (NYSE American: DSS), a multinational company operating businesses focusing on brand protection technology, blockchain security, direct marketing, healthcare, real estate, and securitized digital assets, today announced Malaysian personal protective equipment (PPE) exporter Crecom Burj Group (CBG) has become an early adopter of the Company’s new AuthentiGuard as a Service (AGaaS) anti-counterfeiting technology.
AGaaS is designed for rapid implementation and empowers the entire supply chain with technology to verify product authenticity. Using the AGaaS platform, manufacturers are provided with a unique high-security multi-layered marking to incorporate in each product, while consumers can download an app via Google Play or the App Store that provides the ability to scan and confirm authenticity of a product, as well as a worldwide track and trace solution with real-time reports to track each individual package and flag any counterfeits in the process.
CBG has partnered with DSS to combat counterfeits of their AAMI (Association for the Advancement of Medical Instrumentation)-certified isolation gowns and gloves currently exported to the US healthcare market.
“Counterfeiters are known to hijack high-quality PPE, replacing shipments with cheap, inferior versions, selling the originals for a profit on the black market,” commented Asyikin Muhiyuddin, International Sales Director of CBG. “Our personal protection equipment is designed to protect front-line workers in the pandemic, and we cannot risk our customers receiving products that may have been compromised while transporting it worldwide. Utilizing DSS’s state-of-the-art AGaaS anti-counterfeiting technology, we can ensure the integrity of our PPE shipments to the medical industry.”
Trade in counterfeit and pirated goods has risen steadily in recent years and is estimated at 3.3% of global trade, according to a report from the EU’s Intellectual Property Office and the Organization for Economic Co-Operation and Development (OECD). According to the Global Brand Counterfeiting Report, the total amount of counterfeiting globally reached $1.2 trillion in 2017 and is expected to surpass $1.8 trillion by the end of 2020.
“While the pandemic has led to an increase in counterfeiting of medical products, such as CBG’s PPE, the problem is much more widespread, impacting nearly all industries and consumers,” commented Jason Grady, Chief Operating Officer of DSS. “Adding AGaaS to our product line expands our reach to segments of the market looking for rapid implementation without robust reporting and customization features of our enterprise-level AuthentiGuard solution.”Established in 2013 and headquartered in Malaysia, CBG is a global provider in the healthcare industry, manufacturing and supplying products to customers in Malaysia, the US, UK, Germany, Qatar, Morocco, and Singapore.
About Document Security Systems, Inc.
DSS is a multinational company operating businesses focused on brand protection technology, blockchain security, direct marketing, healthcare, real estate, and securitized digital assets. Its business model is based on a distribution sharing system in which shareholders will receive shares in its subsidiaries as DSS strategically spins them out into IPOs. Its historic business revolves around counterfeit deterrent and authentication technologies, smart packaging, and consumer product engagement. DSS is led by its Chairman and largest shareholder, Mr. Fai Chan, a highly successful global business veteran of more than 40 years specializing in corporate transformation while managing risk. He has successfully restructured more than 35 corporations with a combined value of $25 billion.
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PLEASE NOTE: many 2020 events have been postponed / cancelled due to the worldwide COVID-19 coronavirus pandemic. We recommend that you check directly with organisers to obtain the latest information on events of interest.
International Food Fraud Conference
September 22-23, 2020 - Amsterdam, The Netherlands
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September 24-25, 2020 - Singapore
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September 24, 2020 - London, UK
European IP Forum
November 12-13, 2020 - Munich, Germany
24th International Conference on Food Fraud
December 07-08, 2020 - webinar (online)