Online Giant Takes Action Against Fraud and Abuse

  • Amazon seized over three million fake products in 2021
  • Invested more than $900m into protecting customers and sellers from counterfeit, fraud, and abuse
  • Over 600 criminals sued or referred for investigation
  • 12,000 employees working on the issue, including machine learning scientists and expert investigators
  • Stopped over 2.5 million attempts to create fraudulent selling accounts

In 2021, Amazon seized over three million counterfeit products and took legal action against more than 600 criminals in the US, UK, EU, and China. The company’s latest Brand Protection Report shows that it invested over $900m to protect customers, brands, and sellers from fraud and abuse. With a focus on machine learning and expert investigators, Amazon stopped over 2.5 million attempts to create fraudulent accounts last year. Dharmesh Mehta, VP of Selling Partner Services, says they will not stop until counterfeits are eliminated from their store.

Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about Amazon’s efforts to combat counterfeit products and fraudulent activities on its platform, including specific numbers and investments made towards this cause.
Noise Level: 2
Noise Justification: The article provides relevant and accurate information about Amazon’s efforts to combat counterfeit products and protect customers, brands, and sellers on its platform. It also highlights the company’s investment in resources and partnerships to address this issue. The article stays on topic and supports its claims with specific numbers and actions taken.
Financial Relevance: Yes
Financial Markets Impacted: Amazon’s stock price and reputation
Financial Rating Justification: The article discusses Amazon’s efforts to combat counterfeit products, fraud, and abuse on its platform, which can impact the company’s financial performance and public perception.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text, but Amazon’s efforts to combat counterfeit products and fraudulent activities are significant and have shown progress.

Reported publicly: www.retailsector.co.uk