Card companies join card security association

Visa Inc., MasterCard Worldwide and PayPal have all accepted invitations to join the International AntiCounterfeiting Coalition, according to Robert Caldwell, G2 Web Services LLC founder and Managing Partner. Caldwell first mentioned the major card companies are joining the IACC in a speech he gave at the Electronic Transactions Association's October 2011 Strategic Leadership Forum in Chicago.

Caldwell confirmed his remarks to The Green Sheet and added that the payments industry, the IACC, the White House Intellectual Property Enforcement Coordinator and brand holders such as Gucci America Inc. and Louis Vuitton North America Inc. are all cooperating in the effort to fight cybercrime. Caldwell said G2 Web Services recently signed a deal with the IACC to develop a portal-based system to detect rogue websites selling counterfeit merchandise online.

According to the IACC, the G2 deal represents a new strategy to shut down crooks' ability to process payments.

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