What would your reaction be if one day your company that manufactures life-saving drugs is charged with the murder of innocent patients? It would be of utter disbelief but the facts will state clearly that the ingredients were fake which cost the lives of so many people. This is exactly what happened in Panama in 2006. The cough syrup, antihistamine tablets, calamine lotions and rash ointments that the government distributed caused the deaths of 116 people because it contained counterfeit glycerin which is a poisonous chemical. Panama was not free from the effects of this tragedy for three years.
Another shocking discovery was revealed in February 2012 regarding the sale of counterfeit Avastin, a drug used for cancer therapy. The FDA has warned clinics about the entry of these drugs in their organizations and currently it is unknown how many patients have been recommended this drug. The counterfeiting industry is flourishing with many national authorities having waged their own struggle against counterfeit medicines. These counterfeit operations are existent in every industry such as food products, luxury items and high-tech products.
Whether your company manufactures baby foods, drugs for the terminally ill the patients or manufactures spare parts for the automobiles and aircrafts then these counterfeiters are selling counterfeits of everything and it is extremely difficult to identify the fakes from original. You can imagine how your companys brand reputation can be ruined if you do not take any immediate action against these malpractices. According to The International Chamber of Commerce states the growing e-commerce market is one of the main reasons for the increase in fraud, particularly counterfeits and gray market sales.
To curb this threat, it is important to deploy automated anti-counterfeiting online fraud detection solutions that helps prevent internet frauds effectively. The software provides you with advanced, consistent and real-time monitoring to search for the counterfeit sources on the online auction sites such as eBay, Amazon etc as well as B2B sites. It helps you identify the exact products that are being targeted and provides you with a detailed analysis report on the suspects. It also helps in prioritizing the suspects so that corrective actions can be implemented without wasting time. You can receive the reports either on the dashboards or as email alerts on your phone.
The anti-counterfeiting solution enhances the visibility of the global supply chain and helps in controlling the violators by terminating their online operations automatically. The software provides you the pricing lists, discount percentages and quantities of each product that is being sold in the counterfeit market. It provides you a comprehensive solution for end-to-end protection in business and saves you from detrimental revenue losses and brand damages.
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