What are security holograms?
Security holograms, also known as Optically Variable Devices or OVDs, are PPE-based labels or seals applied to products or packaging to prevent them from being duplicated or tampered with. Holograms are difficult to duplicate because they are created using extremely specialized, high-end machinery that any third party cannot procure. Security Holograms are widely used worldwide in banknotes, credit cards, passports, and other documents that require very high security against forgery, duplication, or tampering.
How holograms can stop counterfeiting
Global counterfeiting is driven by several factors: increased industrialization, easy access to new technologies, the increasing impact of e-commerce, vulnerable supply chains, weak or ineffectual regional law enforcement, and lenient criminal penalties, among others.
Industry worldwide loses large amounts to counterfeiters. These losses affect the producers of genuine items and involve social costs. The ultimate victims of unfair competition are the consumers. They receive poor-quality goods at an excessive price and are sometimes exposed to health and safety dangers. Governments lose out on unpaid taxes and incur large costs in enforcing intellectual property rights. There is also an increasing concern that counterfeiting is related to other criminal activities, such as trade in narcotics, money laundering, and terrorism.
It is estimated that trade in counterfeit goods is now worth more than 5 percent of world trade. This high level can be attributed to several factors: i) advances in technology; ii) increased international trade and emerging markets; and iii) increased share of products that are attractive to copy, such as branded clothing and software.
Security Holograms are embedded with an array of overt, covert, and forensic security features that can be used to verify the authenticity of any product, both by the manufacturer’s field personnel and the end user. It is also important for brands to educate their customers about the dangers of using counterfeit products and the measures they are implementing to ensure only genuine products are sold in the market.
What is anti-counterfeit in business?
The growth in global trade and technology has positively affected many markets across the world, but along with that, it has had some major adverse effects as well. Business organizations spend a lot of money, time, and resources protecting their brand and trademarks. But even after all the measures, the counterfeit market is booming rapidly. According to the Global Brand Counterfeiting Report 2018, total counterfeiting globally surpassed 1.2 Trillion USD in 2017 and is bound to reach 1.82 Trillion USD in the coming few years.
In addition, the rise of e-commerce and digital channels facilitating the sale and purchase of consumer goods has fuelled a rapid increase in the trade of counterfeit products worldwide. The trade of fake merchandise has slowly risen over the last few years and now accounts for 3.3% of global trade, according to a recent report by the Organization for Economic Cooperation and Development (OECD).
Some brands have gone to extreme lengths to stop selling their products’ counterfeit versions. Nike, for example, recently pulled its products from Amazon to try to mitigate the damaging effects of counterfeit goods on its brand. But such reactive measures can barely scratch the surface of the problem.
Veritech offerings to stop counterfeiting?
Shriram Veritech needs no introduction regarding brand protection and anti-counterfeiting solutions. Our continuous innovation and technological advancements have enabled us to create world-class, state-of-the-art Brand Security, Packaging, and Digital Solutions that protect against the threat of counterfeiting throughout your supply chain.
Security Solution: Veritech is committed to fighting the global menace of counterfeiting with its highly secure holograms and holographic products. Employing some of the world’s most advanced holography and printing technologies, we can integrate virtually unlimited security features in our products that are impossible for counterfeiters to replicate.
Packaging Solution: Product packaging is one of Veritech’s core strengths, with a formidable range of materials, inks, finishes, and designs. Our premium packaging solutions can complement any product and enhance its shelf appeal. Veritech also has the technology to integrate holographic counterfeiting and tamper security features with packaging, thereby serving the dual purpose of brand enhancement and brand protection at the same time.
Digital Solutions: Veritech’s Digital Solutions give unparalleled protection against counterfeiting at each level of the supply chain and enable your end-customers to verify the authenticity of any product quickly and easily. A powerful and unique combination of physical security products integrated with robust digital security, our digital security solutions are the future of supply chain management & traceability.