Scale of counterfeiting problem is revealed in new figures
The number of high risk suppliers to the US government, including companies that sold suspect counterfeit product to military and commercial electronics channels, increased dramatically by 63% from 2002 to 2011, according to market analyst IHS. “This large and growing trend highlights the need for members of all tiers of the supply chain to implement tighter supplier-monitoring and procurement procedures in order to meet increasingly stringent regulations,” said IHS. A total of 9,539 suppliers in 2011 were reported either for known involvement in high-risk, fraudulent and suspect counterfeit-part transactions, or for conduct identified by the government as grounds to debar, suspend or otherwise exclude from contract participation. In all, 78,217 potential high-risk firms and suppliers to US government agencies, defense contractors and subcontractors were reported during the period from 2002 to 2011. IHS has said that reports of counterfeit parts in the electronics supply chain quadrupled from 2009 to 2011.
Related Posts
Three Men Charged In Largest Tobacco Bust In Maryland History, Comptroller Says
ANNAPOLIS (WJZ) — Nearly half a million dollars of untaxed tobacco products have...
Airport worker held with 16kg gold
CHENNAI: Customs officers made their biggest smuggling bust in recent times with...
Highly-Taxed Europe Flooded With 53 Billion Illegal Cigarettes
Europe consumed 53 billion illegal cigarettes in 2015, causing almost $13 billion...
Two arrested in smuggling conspiracy connected to Oklahoma prison
A drug task force has arrested two people who allegedly intended to smuggle...