PRILLY, SWITZERLAND - EQS Newswire - 1 October 2024 - In less than a decade, SICPA has become the global market leader in turnkey fuel marking services, now providing fraud detection capability and revenue optimization for over 60 billion liters of petroleum products annually.
Since 2016, SICPA has been successfully deploying its Fuel Integrity Solution (FIS) in Europe, Asia, Africa and the Middle East. FIS is a robust integrated fuel marking solution that provides traceability, monitoring and fraud detection capabilities throughout the supply chain. It answers a serious challenge: according to the United Nations University World Institute for Development Economics Research, with more than USD 130 billion worth of fuels stolen worldwide every year, it is the largest smuggled natural resource.
SICPA's highly resilient forensic markers are introduced into fuel products at all points of entry in a territory. Inspection vehicles equipped with mobile field analyzers can precisely quantify the markers' level in fuel products, in less than 5 minutes, all along the supply chain. Strategic data reporting provides key information on fuel consumption and risk patterns related to fraud detection.
SICPA has acquired solid technological experience through its fuel marking contracts, helping governments achieve their ambitious goals, such as safeguarding and optimising tax collection, combating illicit activities throughout the supply chain, ensuring that consumers receive the product quality they expect and reducing air pollution caused by adulteration with substandard products.
SICPA's FIS enables governments to effectively combat illicit trade by tackling various types of fraud such as smuggling, under declaration, diversion, dumping, adulteration, or dilution. In the Middle East for example, FIS helps authorities to prevent the illegal export of domestic fuel to neighbouring countries as well as its misuse in the domestic market.
SICPA also benefits from a global strategic partnership with Swiss company SGS, the global leader and an unmatched partner for fuel marking operations, field inspection and testing services. SICPA and SGS have a proven track record of successful collaboration ensuring the performance, stability, and robustness of their joint fuel integrity programs.
"SICPA's FIS benefits are recognized by governmental authorities worldwide. Based on a century of combined cutting-edge innovations in material, digital and data science domains, we provide public authorities with ultra-fast forensic detection capabilities on the field, allowing court-admissible evidence. Our system also enables governments to manage their strategic oil reserves, preserving their energy independence and helping to maintain national security by avoiding fuel shortages" explains Omar Messlem, Head of Fuel Segment at SICPA.
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About SICPA
SICPA is a Swiss technology company that supports the effective governance and long-term prosperity of nation states.
Our platform of sovereignty enables our customers to authenticate and secure their vital assets, through custom solutions based on a century of combined cutting-edge innovations in material, digital and data science domains.
At the center of every SICPA solution is a custom crafted molecule, unique to each nation. Acting as a single source of truth, these unique markers are deployed across the full value chain to generate actionable and trustworthy insights in real time.
Established in 1927 and headquartered in Switzerland, SICPA is best known for safeguarding the majority of the world's banknotes. With operations across five continents, today our platform delivers sovereignty solutions mainly across revenue mobilisation, identity verification, healthcare security, and brand protection.
About SGS
We are SGS - the world's leading testing, inspection and certification company. We are recognized as the global benchmark for sustainability, quality and integrity. Our 99,600 employees operate a network of 2,600 offices and laboratories around the world.
source: SICPA HOLDING SA
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