MoneyGram Partners With The International AntiCounterfeiting Coalition

What's Next In Payments®
4:05 PM EDT January 24th, 2013

MoneyGram has announced that it has signed an agreement with the International AntiCounterfeiting Coalition (IACC). The agreement will see MoneyGram participate in the IACC Payment Processor Portal Program, designed designed to prevent disreputable merchants from selling counterfeit goods by disabling certain payment processing channels, such as MoneyGram money transfers, to these merchants. The IACC portal program provides a system for intellectual property rights-holders, such as manufacturers of luxury goods, electronics, and consumer products, to report the illegal sale of counterfeit items. Once a claim is verified by the IACC, a third-party monitoring agent alerts affected payment processors, such as credit card and money transfer companies, to ensure the illegal merchant no longer accepts payments through these channels.

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