The Diamond Manufacturers & Importers Association of America is calling on the diamond industry to join "a serious and committed effort to prevent the leakage of synthetic / laboratory grown diamonds." The call is one of a number of efforts underway to battle non-disclosure.
"We are fearless on this issue. We can't turn our backs on this issue, if we do, it will come back to us and might be worse," Ronald J. Friedman, President of DMIA, told IDEX Online.
"What is important is disclosure," Freidman emphasized.
The announcement follows reports that IGI identified 600 diamonds submitted to for grading as lab-made. The VVS-VS quality of the diamonds raised concerns that the diamonds were manufactured with the intent to defraud consumers.
In a release Thursday, DMIA said it "calls on domestic and international organizations, grading laboratories, governments and law enforcement to join together in a serious and committed effort to prevent the leakage of synthetic/laboratory grown diamonds that have recently been passed into the supply chain by those who have clearly attempted to defraud and deceive."
"It is unacceptable for industry organizations to sit idly by and pay mere lip-service to problems and threats as they come to our industry, and industry leaders must be proactive and fearless in fulfilling their fiduciary responsibilities.
"The DMIA is ready to host a meeting of all players to find a common policy and plan in attacking those who seek to defraud and deceive dealers, retailers and the consuming public.
"The commitment to criminal prosecution is mandatory in stopping this abhorrent behavior."
According to Friedman, "The best approach is to be direct."