GIA is taking strong action in response to reports of fraudulent GIA inscriptions on laboratory-grown diamonds cut to nearly match GIA graded natural diamonds.
Beginning next week, GIA will offer clients a same day service to verify GIA inscriptions, confirming that a diamond with a GIA inscription matches the inscribed GIA report number. Details of the service will be announced shortly.
“Combatting this fraud is vital to protecting the public and ensuring their confidence in gems and jewellery – this is GIA’s mission,” said GIA President and CEO Susan Jacques. “We, like Tiffany, Cartier and other well-known global companies who are vigilant about protecting their valuable brands from counterfeiting and fraud, will take vigorous action to protect GIA and the trust consumers place in us.”
GIA reported several instances over the past few years of laboratory-grown or treated natural diamonds being cut to nearly match the attributes and measurements of GIA-graded natural untreated diamonds. In those cases, the fraudulent laboratory-grown or treated diamonds had counterfeit inscriptions with a GIA report number for a nearly matching natural untreated diamond. Other organisations are now reporting similar counterfeit GIA inscriptions.
For decades, GIA has trained law enforcement officers with basic diamond and gem identification knowledge so they can better understand the industry, including counterfeiting. The institute will continue to work with law enforcement on this issue by diligently reporting the circumstances and details of counterfeiting and fraud to the appropriate trade and law enforcement agencies.
The institute encourages any other gemmological laboratory, industry organisation, company or individual to report any instance of counterfeiting of GIA inscriptions to the appropriate industry organisations and law enforcement and provide GIA with details of the fraudulent stones and the persons or organizations that submitted them. GIA will take appropriate measures, including legal action, to ensure the perpetrators and anyone complicit in the fraud face justice.
It is estimated that there are approximately 10,000 high-pressure, high-temperature (HPHT) presses in China producing laboratory-grown diamonds. In India, the number of carbon vapor deposition (CVD) reactors is almost 7,000, producing as much as one million carats each month, with plans for a significant increase.
Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.
