Video: Martin Rapaport Talks About Fraud in the Diamond Industry

The industry has a communal responsibility to name and shame people who sell synthetic diamonds as natural, even by mistake, Martin Rapaport said in a video address.

“If you don’t know what you’re selling, then you’re violating the rules of our organizations,” he said, referring to RapNet and New York’s Diamond Dealers Club (DDC).

The Rapaport Group chairman also called on US authorities to combat bank fraud and explained some of the security changes RapNet would be making.