Several mined and lab-grown diamonds have been identified by the Gemological Institute of America (GIA) as having counterfeit inscriptions.
The institute reports “a number of stones” recently submitted for updated reports or verification services did not match the GIA report submitted with them and were found to be falsely inscribed.
For example, the report accompanying a stone submitted for an update was for a 1.50362-carat, VVS2, E, Type I minted diamond with an excellent cut grade. However, the newly submitted stone, which was found to have a counterfeit inscription, was a 1.51212-carat laboratory-grown diamond (VVS2, D, Type IIa) with a very good cut grade.
Consistent with GIA policies, the institute overwrites a counterfeit inscription with Xs; issues a new, accurate report; and inscribes the newly-submitted stone with the number of the new report and, when appropriate, the phrase ‘laboratory-grown,” GIA says.
“These instances of attempted fraud highlight why it is important, especially in any transaction where the buyer does not have a trusted relationship with the seller, to have the diamond grading report updated prior to completing a purchase,” the institute said in a statement.
“Depending on the circumstances of the submission of stones with counterfeit inscriptions, GIA considers all the options outlined in GIA’s Client Agreement, including notifying the submitting client, law enforcement, and the public.”