Interview: Fake gems online – Tales from the frontline of the gems business
Fake gems are far more than a nuisance. They’re an unkind, expensive problem for consumers. Gem scams are serious financial and legal risks for both consumers and gems businesses, particularly online. These scams often linked to crime. Some people are targeted for bizarre but dangerous scams like the rightly infamous “Goa scam”. Fake gems scams are common […]
Rajesh Kumar · 24 Jun 2021 · 4 min read
Fake gems are far more than a nuisance. They’re an unkind, expensive problem for consumers. Gem scams are serious financial and legal risks for both consumers and gems businesses, particularly online.
These scams often linked to crime. Some people are targeted for bizarre but dangerous scams like the rightly infamous “Goa scamâ€. Fake gems scams are common in big time money laundering.
Identifying fake gems isn’t easy, even for the professionals. One look at a How To Identify Fake Gems article would convince anyone you need to be trained to do it.
The multi-levels of fraud for gems and jewelry businesses
We’ll need to explain the issues here:
Interview: Tales from the front line
I happened to get talking to a jewelry business professional on social media. Rajesh Kumar is one of the leaders at RMC Gems, an online B2B and B2C jewelry supplier.
Rajesh has seen it all, first hand. I thought it’d be worth asking about how these scams work and what can be done to minimise the damage.
How common are fake gems scams in B2B jewelry?
Scams in B2B jewelry are not easy. In B2B, most of the buyers are very much experienced and they know how to buy, when they purchase online… they ask for many details like videos in day light, normal light, videos on hand, fingers, etc. For high-end expensive stones, they will also demand certificates.
Nasty and tricky -– Online gene scams are very risky. #gems Interview: Fake gems online – Tales from the frontline of the gems business – Digital Journal https://t.co/dJnKKsGXE8
— Paul Wallis (@PaulFMWallis) June 24, 2021
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