Funding bill targets online sites amid retail theft concerns

By HALELUYA HADERO
AP Business Writer

Retailers are scoring one win in the governmentwide spending bill. The $1.7 trillion funding package contains legislation that will force online marketplaces like Amazon and Facebook to verify high-volume sellers amid heightened concerns about retail theft. Brick-and-mortar retailers have been voicing concerns about the amount of goods being stolen from their stores and subsequently sold online. The bill, called the INFORM ACT, seeks to combat the sale of these goods and other counterfeit items. It would compel online marketplaces to verify several types of information – such as bank account, tax ID and contact details – of sellers who make at least 200 unique sales and earned a minimum of $5,000 in a given year.