- Amazon.Com, Inc. (NASDAQ:AMZN) has launched an Anti-Counterfeiting Exchange (ACX) to improve its risk evaluation systems for a safer online shopping experience.
- Under the latest initiative, the retail giant will use a “collaborative data sharing” technology in participating stores to prevent counterfeiters in the marketplace.
- Participating stores will share information about confirmed counterfeiters who attempted to use their services to try to sell counterfeit products.
- With the latest anti-counterfeiting efforts, the ACX participants can identify and stop perpetrators “more quickly.”
- “By leading the way in creating an industry-wide solution to share information about known counterfeiters, we are excited to have helped improve the industry’s collective ability to fight counterfeit crime,” Amazon’s Vice President of Selling Partner Services Dharmesh Mehta said.
- The new program mimics the data exchange programs the credit card industry uses to find scammers and identify their tactics, Reuters reported.
- Also Read: Amazon Unleashes Bedrock: The Game-Changing AI Cloud Service Powering the Future of Tech
- Price Action: AMZN shares traded higher by 0.13% at $104.44 on the last check Thursday.
- Photo by Gerd Altmann from Pixabay
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