CFOtech India - Technology news for CFOs & financial decision-makers
Story image

IACC conference highlights evolving anti-counterfeiting strategies

Thu, 23rd May 2024

The International Anti-Counterfeiting Coalition (IACC) Annual Conference 2024 has provided new insights into the evolving challenges in the continuous fight against counterfeits. Key leaders from Ennoventure, an anti-counterfeit and brand protection solutions provider, attended the conference, contributing critical insights that impact the anti-counterfeiting space.

A significant highlight from the conference was the session discussing the utilisation of deep brand knowledge as a defence mechanism against counterfeiting. Brands possess unmatched intrinsic knowledge about their products. By leveraging this deep understanding, effective anti-counterfeiting measures can be crafted. The session underscored that brand owners are not mere creators; they are also the frontline defenders of their intellectual property.

Navigating the legal frameworks for brand protection in Latin America was another key topic covered. The complexities of law enforcement in various countries were highlighted. In Mexico, the enforcement process is notably lengthy, often requiring federal prosecutors to demand original product copies, a challenging requisition for brands like Supreme that continuously introduce new products. In Brazil and Paraguay, judicial systems vary significantly—Brazil permits judges a high degree of discretion regarding evidence relevance, while Paraguay necessitates expert evidence. In Guatemala, the law mandates that only expert testimony is admissible in counterfeit cases, often sidelining the brands from presenting their case directly.

The conference also addressed the need for technology capable of fast and easy counterfeit identification. The goal is to provide solutions that can be used by anyone with a smartphone. This technological evolution is crucial to fighting counterfeiting efficiently.

The evolution of authentication techniques was a hotly debated topic. There was a consensus that traditional methods, such as QR codes, are inadequate for robust authentication due to their susceptibility to replication. The discussion steered towards more sophisticated methods, including covert AI-based encryption and advanced holographic labels, to combat increasingly adept counterfeiters.

Another significant focus was the role of consumer influence in the anti-counterfeiting effort. Covert encryption not only enhances product protection but also facilitates authenticity verification across various stakeholders. The growing impact of consumer behaviour is driving brands to be more transparent about counterfeit issues, ensuring that products are safe and legally produced. This trend is illustrated by initiatives like the "NEW CAP ERA," where brands acknowledge the presence of counterfeits, thereby enhancing consumer trust through proactive authenticity verification.

Follow us on:
Follow us on LinkedIn Follow us on X
Share on:
Share on LinkedIn Share on X