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Articles from DIAMONDS BY CUT - BRILLIANT (ROUND) (281 Articles), DIAMOND GRADING LABORATORY / CERTIFICATION (71 Articles)

The GIA has reportedly banned a diamond manufacturer suspected of committing fraud
The GIA has reportedly banned a diamond manufacturer suspected of committing fraud
 









Diamond fraud exposed

Transparency continues to be a critical factor in the diamond trade, with the GIA banning a client on suspicion of fraud whilst simultaneously releasing a new grading service.

Reports have emerged that the Gemological Institute of America (GIA) has closed the accounts of Surat-based diamond manufacturer Cristy Gems as well as several associated businesses.

The companies – identified by Rapaport Group as Cristy Gems, Yogesh Kalsaria, Kalsaria Diamonds, M/S Cristy Gems, Tusharbhai and Chhaganbhai Kalsariya – were suspected of fraudulently inscribing diamonds with pre-existing GIA report numbers that belonged to other stones.

Rapaport Group, the company that owns online diamond trading network RapNet, released a media statement that claimed Tusharbhai and Chhaganbhai Kalsariya had submitted diamonds to the GIA via Rapaport India.

The statement added, “Rapaport India is no longer accepting stones from these companies for submission to the GIA and the companies also have been suspended indefinitely from RapNet…”

When approached to confirm the rumours, a GIA spokesperson told Jeweller the media reports were “generally correct” but declined to comment further on the matter.

Addressing transparency demands
Tom Moses, GIA executive vice president and chief laboratory and research officer
Tom Moses, GIA executive vice president and chief laboratory and research officer

In further attempts to improve transparency across the industry, the GIA has introduced an online-only report that provides a “4Cs assessment” of D to Z colour, round brilliant cut diamonds weighing between 0.15 and 0.29 carats.

The Diamond Focus Report – which is accessible via the GIA’s online Report Check database look-up service – adopts the same standards and processes used for all other report services offered by the laboratory.

Tom Moses, executive vice president and chief laboratory and research officer for the GIA, said the laboratory was able to offer the “reduced-fee service” for smaller diamonds due to recent technological innovations and developments.

“The Diamond Focus Report will help address consumer and industry demand for rigorous and independent examination of smaller diamonds,” he commented.

In addition to key details like carat weight, and colour, clarity and cut grades, the report service offers grading information such as polish, symmetry and fluorescence. The report number is also laser inscribed on the diamond.

The report is currently available at GIA’s Bangkok, Carlsbad, Hong Kong, Mumbai, New York and Tokyo laboratories, with more locations expected to offer the service in the future.

More reading
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Sunday, 21 April, 2019 08:33pm
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