BEWARE OF JEWELLERY FRAUD

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Beware Of Jewellery Fraud
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ery-fraud
In late 2019, the British Hallmarking Council
said it was worried that buyers were
being scammed following a ten-day internet sweep
unearthed the fact that 36 of gold jewellery
listings were not advertised as hallmarked.
Keeping up with the diverse jewels and jewellery
being increasingly available, there are more
opportunities than ever to pass off the fake as
real. With the growing market, new methods of
production also give motivated scammers the
chance to come up with jewellery
fraud. Jewellery fraud view from the
top Naturally, if the jewellery sold online can
be demonstrated to be less than hallmarked, it
qualifies as a fake. The sellers are therefore
engaging in jewellery fraud. In plain English,
it is illegal to sell anything in the UK made
from gold, silver, platinum, and palladium,
above specific weight sans hallmark, which
attests to the genuineness of the material. Per
the aforementioned study, close to 150,000 fake
gold jewellery items could be listed for sale
annually. It is true that the UK Hallmarking Act
of 1973 was put in place to shield consumers and
retail jewellers from fakes. However, the
relevant laws application to o nline trading
activity has yet to be tested. There has been
insufficient initiative coming from the online
merchants side to ensure consumer rights or
quality standards. The authors of the
aforementioned study said they managed to
highlight just a mere fraction of the
infringements made by online jewellery
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sellers in the country today. They tell us that
it is with the local Trading Standards departments
that the enforcement duty currently rests. An
effective factor could be the whittling down of
their resources by a staggering 50 in the
preceding five years. The authors believe more
powers should be afforded to the departments to
discharge their duties better. Per sources in
the Goldsmiths Company Assay Office, the latter
joined the British Hallmarking Council in
representing to the UK government the need of the
latter to work with such organisations (drawing
in other Assay Offices) to evolve a vibrant
enforcement strategy that shields consumers from
internet-based, dishonest trading practices. The
foregoing proposed measures would be complete if
they included a review of the current
Hallmarking Act to examine the potential of its
extension into internet trade. The Goldsmiths
Company Assay Office (with the British
Hallmarking Council) is also asking the
government to work with eBay and Amazon to
increase hallmarking information on precious
metals listings, boosting consumer and seller
awareness about the law and hallmarking. Advised
ly, consumers ought always to ask if a product is
hallmarked prior to making their purchase. If
they do not, they are only giving jewellery fraud
a chance. Citizens Advice is the go-to agency
for general queries regarding hallmarking and
dispute resolution. There are actually a good
number of agencies to turn to if you are
afflicted by fraud. Action Fraud immediately
comes to mind. However, forewarned is
forearmed. Jewellery Fraud spotting fake
diamonds Puzzle of the day. Grandmothers ruby
engagement ring, a Boucheron bracelet with name
engraved, a Swarovski pendant. Which of the three
would you reckon to be a fake? Regardless of the
assumptions, you may have regarding the sort of
jewellery that can be faked or forged, the truth
remains that, sans the grading report, theres no
proof of authenticity. Jewellery Fraud the
counterfeit gems jewelry industry You would be
extremely surprised to learn that, for centuries,
the counterfeit gems jewellery industry has
been employing ingenious methods to mimic the
appearance of precious metals and authentic
stones and replicating high-end brands to jack up
goods prices. Something that purports to be
what it is not is a fake. Conversely, a forgery
is a wilful alteration of a bona fide item with
full intent to defraud. In other words, a
purported Art Deco is a fake. Also, a piece of
Cartier signed Art Deco jewellery crafted by a
back street workshop is a forgery.
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Consumers aggravate the tendency toward jewellery
fraud. They become a part of the problem when
they only engage in wishful thinking. Looking
for bargains, they set out to find great deals.
However, a genuine artefact, a real work of art,
an authentic jewel, or a piece of jewellery can
compromise neither its high standard quality nor
its price. Jewellery is not bought for a song.