New Law Makes It Harder for Online Criminals to Sell Fake or Stolen Products
A new federal law will make it harder for online criminals to sell fake or stolen products in the wake of shoplifting gangs selling products on e-commerce sites.
The INFORM Consumers Act, which went into effect on June 27, is intended to limit the sales of stolen and counterfeit products online, said the Federal Trade Commssion (FTC).
Goods stolen from retailers are often sold on e-commerce states.
The legislation will require online marketplaces to collect, verify, and disclose information about third-party sellers who make more than 200 sales that total $5,000 or more in a year.
The INFORM act goes into effect right before Amazon Prime Day from July 11–12, when the major online retailer offers discounts for Prime members….