Amazon.com Inc (NASDAQ:AMZN) announced the launch of an enhanced initiative to combat counterfeiters trying to sell knock-off products through its site.
The Counterfeit Crimes Unit is a global initiative staffed by former federal prosecutors, investigators and data analysts who will attempt to block counterfeit products from ever being offered for sale on the retail platform. The company isn't just attempting to block the products from being listed, they plan to prosecute the cheaters.
Amazon spent more than $500 million in 2019 thwarting the efforts of illegal sellers on its site. The company's internal taskforce was 8,000 strong, blocking more than 2.5 million "suspected bad actor accounts" before they could list counterfeit products and stopping over 6 billion suspected fraudulent listings.
The launch of the counterfeit unit aims to do more than just block bad actors from listing fake goods for sale on the online store. Amazon wants to work with local law enforcement to "hold counterfeiters accountable for their crimes," by pursuing civil litigation against offenders. The company views the effort as a collaboration with the brands and the companies being counterfeited and law enforcement.
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