WASHINGTON, Sept. 27, 2011 /PRNewswire-USNewswire/ -- The International AntiCounterfeiting Coalition (IACC) announced today that it has inked a deal with G2 Web Services, LLC, the leading provider of merchant compliance monitoring and risk management services, to develop a portal-based system designed to help brands turn the lights out on "rogue websites" selling counterfeit goods online. According to the IACC, the system is emblematic of a new strategy in online intellectual property enforcement: hitting counterfeiters in the wallet by working with financial institutions to shut down their ability to process payments.
Today's announcement comes after months of negotiations between the IACC and representatives from the payment processing industry. "The new program represents a historic collaboration between members of the financial industry and rights holders," says IACC President Bob Barchiesi. "The groundbreaking technology from G2 Web Services and unprecedented cooperation from the payment processors will deliver a serious blow to the online counterfeiting schemes that dupe consumers and cost the U.S. economy much needed jobs and hundreds of billions of dollars in revenue."
"We would also like to thank White House Intellectual Property Enforcement Coordinator (IPEC) Victoria Espinel for her leadership in bringing together representatives of the financial industry and rights holders," says IACC Chairperson Donna Schmitt. Ms. Schmitt adds, "IPEC's development of best practices for rights holders and payment processors served as a roadmap and was crucial in brokering this deal."
The IACC expects to launch the program in late November 2011.
About the IACC
The IACC is a Washington, D.C.-based non-profit organization devoted to combating product counterfeiting and piracy. Formed in 1978, the IACC is comprised of a cross section of business and industry from the automotive, apparel, pharmaceutical, software, entertainment, and consumer products sectors, including many of the world's best-known brands. The touchstone of the IACC's mission is to combat counterfeiting and piracy by promoting laws, regulations and directives designed to render the theft of intellectual property undesirable and unprofitable.
About G2 Web Services, LLC
G2 Web Services, LLC is the recognized leader in merchant compliance monitoring and e-commerce risk management. G2 works globally with card networks, acquiring banks, independent sales organizations (ISOs), payment service providers (PSPs) and others to identify, mitigate and monitor risk posed by their merchants' online presences. Visit www.g2webservices.com to learn more.
SOURCE International AntiCounterfeiting Coalition