Gloucestershire, UK, July 3, 2008 – In light of the recent legal ruling in France resulting in a £31 ($63) million fine against eBay for selling counterfeit luxury goods, the global issue of product authenticity among online auction sites has been brought sharply into focus. Cybercrime and \"e–fencing\" are serious issues, costing consumers an estimated £2 ($4) billion annually. A judge in the US is due to rule at anytime on a similar case brought by Tiffany.
This threat was identified eight years ago by the founders of CheckMEND.com, an online property authentication service, who have compiled what is now the world’s largest database of counterfeit and stolen goods with more than 100 million records.
- Published: 03 July 2008
- Written by newsprovider