A new initiative aimed at tackling the problem of counterfeiting in the maritime sector, has been welcomed by the International Hologram Manufacturers Association (IHMA).
The industry trade body says the new Know Your Customer (KYC) Best Practices heralds a significant step forward in the battle to thwart the volume of counterfeits shipped around the world.
The KYC lays down a voluntary framework of steps maritime companies can take to ensure they know even more about who is shipping products on their vessels.
According to a report by Organisation for Economic Co-operation and Development (OECD) and the European Union Intellectual Property Office (EUIPO), the value of global trade in counterfeit goods in 2013 amounted to $461bn.
It is estimated by the OECD that the total economic and social costs globally due to counterfeiting and piracy worldwide is expected to rise to more than $1.8trn by 2022.
All those involved in the global supply chain, including brand owners, vessel operators, freight shipping companies and trade authorities, will benefit from an initiative that tackles the ‘massive’ global counterfeiting issue, says the IHMA.
The initiative also highlights the measures that can be taken to deal with the problem, which can include increasing adoption of track and trace systems featuring hologram technologies.
Manoj Kochar, chair of the IHMA, said counterfeiting is a big problem for the shipping industry, but the KYC can be seen as step in the right direction in stemming the impact and securing global jobs.
“This so-called historic ‘Declaration of Intent to stop the Maritime transport of counterfeits’ is a further reminder that the war on counterfeiting remains far from won, and global brands and profits need to be protected,” said Manoj Kochar.
“Global brand owners and maritime companies will see off the back of this latest initiative how relatively low cost yet effective hologram technologies can be of benefit,” he says.
“When included as part of a supply chain track and trace system, for example, holograms are to the fore as weapons in tackling counterfeiting and securing authentication.”
Increasing adoption of holography reinforces the technology’s position as a pre-eminent security feature in the global anti-counterfeiting fight.
The use of well-designed and properly deployed authentication solutions, as advocated in the ISO12931 standard enables examiners to verify the authenticity of a legitimate product, differentiating it from the counterfeits in the marketplace.
Even those that carry a ‘fake’ authentication feature can be distinguished from the genuine item if that item carries a carefully thought-out authentication solution.
About the IHMA
The IHMA is made up of 100 of the world's leading hologram companies. Members include the leading producers and converters of holograms for banknote security, anti-counterfeiting, brand protection, packaging, graphics and other commercial applications around the world, and actively cooperate to maintain the highest professional, security and quality standards.
Macallan Whisky picks Izon® Technology as part of a comprehensive anti-counterfeit solution
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The Edrington Group, makers of world renowned The Macallan Highland Single Malt Scotch Whisky, faced a challenge when re-filled used
bottles, intact with labels, began appearing on shelves under their brand name. This posed a serious consumer safety, as well as a global
brand issue. For a solution, they turned to Authentication Solutions for the key overt component of a comprehensive solution.
Epson builds market awareness of authentic product through implementation of layered AC tech
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Epson Latin America estimated that 20% of the product in the market was counterfeit and entering the supply chain through local distributors. The existing anti-counterfeiting ink technology was compromised. Epson developed a new strategy to target unauthorized distributors in key countries and build market awareness of authentic product.
The StellaGuard™ solution leverages the benefits of a barcode and connects it with a three-dimensional visual reference that provides instantaneous authentication with copy-detect protection. StellaGuard™ is a patented and elegant solution to protect your assets, enabling trusted stakeholders, including customers, to authenticate a product using common everyday smart devices.
The smartphone: a new tool to spot fake products
The development of new smartphone technologies offers brands the opportunity to fight counterfeiting more efficiently and drive competitive differentiation by turning their products into smart assets. This paper examines the process of placing the consumer as one of the key actors against illicit trade and creating new business intelligence capabilities for brands.
Pharma Security World 2018: "Anti-counterfeiting and Brand Safety"
March 20-21, 2018 - London, UK
Global Illicit Trade Summit 2018: Out of the shadows
March 22, 2018 - Kuala Lumpur
4XScience 2018 E2E Supply Chain Serialization Benchmark Workshop
March 27-28, 2018 - Brussels, Belgium
Robert Schuman Foundation conference: Smuggling, counterfeiting and the financing of terrorism – mobilising economic stakeholders
April 11, 2018 - Brussels, Belgium
April 17-19, 2018 - New York (NY), USA
4th Global Brand Protection EU Innovation Programme (GBPIP)
April 26-27, 2018 - London, UK
IACC 2018 Annual Spring Conference
May 16-18, 2018 - Seattle (WA), USA
INTA Annual Meeting
May 19-23, 2018 - Seattle (WA), USA
May 29 - June 01, 2018 - Milan, Italy
Partnership for Safe Medicines 2018 Interchange
June 07, 2018 - Washington D.C., USA
June 25-27, 2018 - London, UK
September 2018 (dates tbc) - Switzerland
Rx-360 Global Life Science Supply Chain 2018 Conference: Driving Innovative Quality Strategies
September 25-26, 2018 - Miami (FL), USA
2018 A-CAPP Center Brand Protection Strategy Summit
October 02-03, 2018 - East Lansing (MI), USA
13th Security Document Summit (SDS)
October 17-18, 2018 - Beijing, China
Anti-Counterfeit & Currency Expo (ACCE)
November 06-08, 2018 - Las Vegas (NV), USA