January 26, 2022
The electronic payment ecosystem is complex and changing fast. In addition to the different payment cards, the development of internet and mobile payments, digital money transfers and electronic currencies means that there are more payment services that IP infringers, intent on stealing IP-protected content, for example, can use.
IP infringers engaged in the sale of counterfeit goods or providing services for pirated content depend on various payment services for their activities. They increasingly engage in sophisticated uses of different payment services to undermine investigative measures used to establish the illegal nature of their activities, and to make the flow of funds more complicated to trace.
The EUIPO’s discussion paper identifies the emerging trends and the challenges that electronic payment service providers, IP owners and law enforcement authorities are facing in counteracting the misuse of payment services for IP-infringing activities. Most importantly, it identifies existing good practices from electronic payment services providers that are seeking ways to limit the risks of their services being misused for such activities. To access the discussion paper, click here.