Thursday, November 21, 2013

WFDB steps up fight against synthetic diamonds being passed off as natural

The World Federation of Diamond Bourses (WFDB) and the Gemological Institute of America (GIA) have reached an agreement to collaborate on combating the passing off of synthetic diamonds as natural.
The WFDB, in October, said it had noted a growing tendency for undisclosed synthetic diamonds to be introduced to the market.
“While the WFDB acknowledges that synthetic diamonds have a place in the market, they must not be confused with or marketed as natural diamonds,” the federation said at the time, adding that, according to WFDB policy, synthetic gems had to be declared.
In terms of the agreement between the two industry bodies, the GIA would provide machines to WFDB member bourses to assist with the detection of synthetic diamonds.
“The assistance offered by GIA with making these machines available to member bourses will be of great assistance in the detection of illegal mixing of synthetic and natural diamonds,” the WFDB said, emphasising the organisation’s commitment to enforcing its stand of “zero tolerance” in the nondisclosure of synthetic stones.
The federation added that all persons in the diamond value chain had to work together to protect the industry and ensure consumer confidence.
“Members of the diamond industry need to understand that they are personally responsible for what they sell, which is why it is of the utmost importance to know your supplier and the legitimacy of their product, whether it is to ensure they are Kimberley Process-compliant or are disclosing synthetics,” the organisation noted.

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