The global money transfer company MoneyGram has announced its participation in the IACC (International AntiCounterfeiting Coalition, Inc.) Payment Processor Portal Program as its effort in preventing disreputable merchants using its services to sell counterfeit goods. The IACC Payment Processor Portal Program provides a system for intellectual property rights-holders, such as manufacturers of luxury goods, electronics, and consumer products, to report the illegal sale of counterfeit items. Once a claim is verified by the IACC, a third-party monitoring agent alerts affected payment processors, such as credit card and money transfer companies, to ensure the illegal merchant no longer accepts payments through these channels
The IACC serves as an umbrella organization, offering anti-counterfeiting programs designed to increase protection for patents, trademarks, copyrights, service marks, trade dress and trade secrets. The IACC and program members have disabled more than 1,200 counterfeit merchants to date.
by Alice Lee