RILA Cheers Passage of INFORM Consumers Act
Bill holds online marketplaces accountable for fake, stolen
- By [ Michael Hanson ]
- Washington, DC
- 02/04/2022
“The dramatic increase in the sale of counterfeit and stolen goods sold on third-party online marketplaces represents a significant threat to U.S. consumers. Today it is too easy for criminals to use the anonymity of marketplace platforms to sell counterfeit or stolen products to unsuspecting consumers. These products are often defective, and potentially unsafe knockoffs, and third-party marketplaces are not doing enough to ensure the products sold on their platforms are legitimate.
“The INFORM Consumers Act, passed today as part of the America COMPETES Act, will establish transparency and accountability on online third-party marketplaces, making it more difficult for domestic criminals or foreign con artists to hide behind fake screennames to mislead consumers with fake or stolen products. Retailers have long advocated for these commonsense accountability measures, and we are thrilled to see it included in the COMPETES Act passed by the House today.”
A recent study by the Buy Safe America Coalition reveals just how harmful counterfeit goods from China are to the U.S. economy. In addition to costing domestic retailers nearly $54.1 billion in sales, it also accounts for $1.12 billion in intellectual property rights violations from sellers in China alone.
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RILA is the US trade association for leading retailers. We convene decision-makers, advocate for the industry, and promote operational excellence and innovation. Our aim is to elevate a dynamic industry by transforming the environment in which retailers operate.
RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs, and more than 100,000 stores, manufacturing facilities, and distribution centers domestically and abroad.
Tags
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Public Policy
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Organized Retail Crime
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Asset Protection
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Keeping Communities Safe
