The Transnational Alliance to Combat Illicit Trade (TRACIT) and Initiative Innovationskraft fuer Sicherheit in der Wirtschaft (IISW) today agreed to work collectively to fight illicit trade.  TRACIT and IISW will broadly support each other’s initiatives and projects aimed at preventing and suppressing illicit trade, which is a global phenomenon that robs businesses and governments and funds organized crime and terrorism.

“Illicit trade is a transnational problem, which demands a multinational response,” said TRACIT Director-General Jeffrey Hardy. “We are pleased to build our international network to bring business together to promote awareness, share best practices and drive policymakers towards the adoption of more effective solutions.”

Illicit trade is not a challenge that government and state authorities can overcome alone.

“Private industry can and should get involved,” insists IISW’s Director Thomas Franke. “Many companies are already contributing by investing in innovative technologies for consumer and brand protection to help protect supply chains, prevent illicit trade and ultimately stop organized crime.”

TRACIT and IISW will facilitate the exchange of ideas and information; reach a wider audience through their websites, regular newsletters and events, special briefings, social media activities and special research; and cooperate to advance policies to combat illicit trade.

TRACIT is an independent, private sector initiative to drive change to mitigate the economic and social damages of illicit trade by strengthening government enforcement mechanisms and mobilizing businesses across industry sectors most impacted by illicit trade.  The organization looks to build partnerships with key national operatives, such as IISW, and to form collaborative relationships with intergovernmental organizations in order to step up the fight against illicit trade.