Traverse Legal's Internet Law Attorneys continue to track the continued growth of counterfeit brands and online fraud across the Internet. Few companies appreciate the risk they face from scammers who mimic their brands online, then seek to use information gained from customers for fraudulent purposes. In some cases, as is clear from the article below, the customers do not realize they have purchased counterfeit goods online. Counterfeit components have turned up on U.S. Military, NATO, and NASA Space Shuttle, as well as Air Force One. These counterfeit goods find their way into the system in a variety of ways and can dramatically harm companies seeking to protect their brands online. It used to be that counterfeiters fit the profile of the street vendor in New York selling fake Gucci watches. Sophisticated hackers have taken the counterfeit business online, to the detriment of any company seeking to protect its brand and perceived quality of goods and services online.
Irfan Salim, chief executive officer of MarkMonitor, said that scammers are taking full advantage of the fact that the internet is often the first port of call for many consumers. "Unfortunately, online criminals and scam artists find the internet full of opportunities to line their pockets at the expense of leading brands and customer trust," Salim said. Other key findings in the report revealed that 'cybersquatting', the practice of registering domain names containing a brand, had increased 40 per cent to 402,882 cases a week.
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