KIEV, Ukraine, February 20, 2010 /PRNewswire/ -- As the world continues to grapple with economic challenges, a new method of securing cigarette tax stamps from counterfeiting and falsification could save nations in the Middle East and globally from revenue losses totaling more than $50 billion (US) annually. New specialized holograms used as a foundation of the comprehensive enforcement solution from the EDAPS Consortium, may cut off funds supporting organized crime and terrorism, two consistent beneficiaries of the world's near trillion dollar counterfeit and piracy plague.
The World Health Organization Framework Convention on Tobacco Control has determined the estimated 600 billion counterfeited and smuggled cigarettes crossing national borders annually represents $50 billion (US) in lost revenue affecting nations throughout the world.
Some 400 governmental organizations and companies currently use holographic elements produced by EDAPS Consortium, one of the world's leading producers of holographic security elements (HSE).
By combining state of the art holograms with our enforcement methodology and Track Trace System, we are enabling government agencies to double their revenues from the sales of excisable products while shutting down illegal uses that often fund transnational criminal activities, said Alexander Vassiliev, Chairman of EDAPS.
The Secretary General of the World Customs Organization has singled out for praise the Ukrainian system of protecting goods with tax stamps with holographic security elements developed by EDAPS. This system is a good example for other states, said Michel Danet at the Global Congress on Combating Counterfeiting Piracy.
The key role of our organization is to provide reference information and inform government institutions of the methods of protecting goods from counterfeiting. These methods become more complicated while shadow market dealers develop new methods of counterfeiting not only products, but security elements as well, the Secretary General concluded.
In addition to providing highest security tax stamps and their Track Trace System, the EDAPS Consortium is providing nations with consultant support on enforcement methodology, circulation and verification of excise stamps and tobacco products so as to develop solutions to challenges outlined by the World Customs Organization.
The World Bank and the International Monetary Fund have both declared the introduction of anti-counterfeiting measures such as forgery-proof tax stamps as essential to combating tobacco smuggling.
SOURCE: EDAPS Consortium
CONTACT: Olga Lubimova of EDAPS Consortium, +38044-5612570, ext. 11, Fax,+38044-5612545