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Anti-counterfeit ticket mkt worth $38.3bn by 2020

The global market for anti-counterfeiting technology for event tickets and security documents will be worth US$38.3 billion by 2020.

Following news of a boom in ticket fraud in the UK and recent scams involving the Rio Olympics and Drake shows in Canada, Intense Research’s Global Anti-Counterfeit Packaging Market in Security Documents and Event Ticketing report reveals the anti-counterfeit packaging sector will grow at an average annual rate of 9.5% between 2014 and 2020.

According to Intense Research, the North American market current leads the way in anti-counterfeiting technology, closely followed by Europe, although the Asia-Pacific region is expected to grow the fastest – an average of 10.5% – “due to growing awareness of authenticated products across manufacturers and a decrease in the cost of tracing anti-counterfeit technologies”.

Ink/dyes and holograms collectively held around 93% of the marketshare in 2014 and are expected to grow at a “moderate pace”, although newer innovations such as RFID, barcode and track-and-trace technology are expected to gain more ground in the six-year forecast period.

The report, in all its 93-page glory, can be purchased from Intense Research.

 


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Russian hacker faces jail over StubHub scam

The alleged ringleader of a concert ticketing scam is facing a minimum of four years in prison after pleading guilty to money laundering and possession of stolen property.

Vadim Polyakov, along with accomplice Nikolay Matveychuk, hacked into StubHub accounts and bought tickets with users’ credit cards to sell for a profit, heard Manhattan Supreme Court on Monday, and is expected to receive between four and 12 years in prison for his part in the scam.

The Russian sold around US$1.6 million worth of tickets to shows by Justin Timberlake, Jay-Z and more before being apprehended by Spanish police in 2014.

“I didn’t steal [the passwords], myself but I [knew they were] stolen,” said Polyakov with the assistance of a translator, reports the New York Daily News.

“Many foreign cybercriminals believe they can operate overseas with total impunity, but this case proves they can be held criminally responsible for their actions”

More than 1,000 StubHub user accounts were comprised, said prosecutors. The eBay-owned ticket marketplace reimbursed those affected.

Nine other people were also indicted, reports AP, though some have yet to be arrested. Others have pleaded not guilty.

“Many foreign cybercriminals believe they can operate overseas with total impunity,” saids Manhattan district attorney Cyrus Vance Jnr, “but this case proves they can be held criminally responsible for their actions, which can have devastating consequences on thousands of victims at a time.”

 


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