IDE launches awareness campaign on synthetic diamonds

Israel Diamond Exchange (IDE) President Shmuel Schnitzer has launched an awareness campaign to ensure that the 3,500 members of the world's largest diamond exchange are informed of the pervasive implications of trading knowingly or unknowingly in synthetic diamonds.

According to Schnitzer, few immoral foreign dealers are mixing synthetic diamonds into parcels of natural ones and selling them as natural diamonds which is debasing the reputation of the entire industry. IDE board member Yoram Dvash noted that the issue is of major concern and up until now no synthetic diamonds have been found among parcels of natural diamonds.

The IDE's awareness campaign began on December 8 with its first lecture by industry analyst Chaim Even Zohar who discussed the economic, ethical and legal aspects of trading in lab-grown diamonds.