SGS Publishes Consumer Compact Article on the Risk of Not Knowing the True Price of Imports

GENEVA - Jan. 31, 2024 - PRLog -- SGS, the world's leading testing, inspection and certification company, has published a Consumer Compact article looking at the issues surrounding global trade fraud and the ways SGS e-Valuator can help governments beat trade scammers.

It's estimated that around four billion paper documents relating to global cargo trade are in circulation at any one time. Digitalization gives authorities the opportunity to speed up the exchange of documents while automatically detecting fraudulent practices. By cross-referencing the declared value for a good against an up-to-date database of prevailing international prices, attempts to defraud governments can be identified even before the consignment has reached port.

SGS's Consumer Compact article looks at the challenges around global trade and explains how SGS e-Valuator is helping governments to focus their attention on high-risk consignments to beat the trade scammers.

Read the original Consumer Compact article, 'The Importance of Knowing the True Value of Imported Goods'.

SGS solution
SGS e-Valuator is a fully automated trade valuation system that seamlessly interfaces with a country's customs management system. It utilizes a regularly updated database containing accurate price references to ensure governments are not being defrauded. All trade transactions are automatically assessed, enabling better targeting of suspicious consignments to reduce costs and increase success rates.

Learn more about SGS e-Valuator (https://www.sgs.com/en/services/e-valuator).

Subscribe here (https://www.sgs.com/en/newsletters/global/consumer-compact) to receive SGS Consumer Compact direct to your inbox.

For more information, please contact:

Email: cp.media@sgs.com
Website: www.sgs.com/trade
LinkedIn: SGS Connectivity & Products (https://www.linkedin.com/showcase/sgs-connectivity-and-products/?viewAsMember=true)

About SGS
We are SGS – the world's leading testing, inspection and certification company. We are recognized as the global benchmark for quality and integrity. Our 96,000 employees operate a network of 2,700 offices and laboratories, working together to enable a better, safer and more interconnected world.