In recent years, Canadian authorities have been cracking down on counterfeiting by using information from victims to close the bank accounts of the merchants selling counterfeit goods. Experts say that while the approach isn’t a silver bullet, it’s a sensible way to fight counterfeits that U.S. brands and consumers could benefit from.
The Canadian Anti-Fraud Centre, which is run by the Royal Canadian Mounted Police, implemented a program known as “Project Chargeback” in 2012. Under the program, CAFC, in collaboration with credit card companies and banks, closes the bank accounts of counterfeit-selling merchants and reimburses victims who bought counterfeit goods. In the last year, more than 2,000 counterfeiters have had their accounts closed, and about $3 million has been reimbursed more than 9,000 victims.
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