Counterfeiting is Big Business in a Bad Economy – BrandWatch SecuriTagg Helps Safeguard Public Health and Safety

BrandWatch™ Technologies, an innovative global leader in brand security solutions, announced today that it has launched its next generation security product, SecuriTagg. In today’s struggling economy, counterfeiting and product piracy is expanding exponentially. The numbers are staggering, and no industry has been left behind. SecuriTagg, combined with BrandWatch’s proprietary Reveal detector, provides a covert solution to combat this ever-growing problem.

“There has been a huge surge in the need of brand protection services over the past year. Brand owners are being put at risk and there is little concern for the health and safety of others,” warns Phil Huff, the company’s top executive. “Public safety risks come from the sale of non-genuine products including the auto and aerospace industries, replacement parts, and even average household items. Counterfeit numbers are growing in the wine, spirits, pharmaceutical and other consumable areas as well.”

Fake products cost more than we might think. The US Chamber of Commerce estimates that counterfeit goods account for 6% to 9% of all world trade. Intellectual property crimes are said to drain the US economy of $200 to $250 billion annually.

“For counterfeiters, it’s easy money with little to no advertising costs on branding, insurance, employee benefits or taxes. No item is too small if there is money to be made. Counterfeiting has expanded from petty criminals to organized crime; SecuriTagg helps brand owners fight back,” says Phil Huff.

There has also been a growing trend in the production of fake identification, public event tickets, currency, coupons, tax stamps and other secure documents. BrandWatch Technologies, in business since 2001, makes microscopic markers that authenticate genuine items in a wide variety of industries.

Traditionally, non-genuine products have entered the market from internet sales or flea markets. In today’s economy there has been a growing trend of items showing up in retail stores as well. Counterfeit packaging has become so sophisticated that many companies are having difficulties telling their own products from the look-a-likes. When consumers ingest one of these fake products and become ill or are injured using inferior knock-offs, the brand owners could become liable.

“Most consumers don’t stop to think about it, but we are all vulnerable. Without the same quality control standards, testing procedures or proper handling and storage, consumable items are especially risky counterfeits. From pharmaceuticals to small wine makers, I have been finding that our BrandWatch brand security solutions are a good match as they can be easily integrated into small batches or larger production runs,” says Steve Delepine, VP business development for BrandWatch. “I’ve been helping a growing number of companies concerned about liability as well as their reputation.”

Best practice for today’s brand owners is to incorporate a multifaceted approach to anticounterfeiting. In order to stay ahead of counterfeiters, BrandWatch Technologies has designed SecuriTagg to stand alone, as well as layering with existing security measures as a combined approach.

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