Counterfeit goods costing UK economy £9.2bn
In terms of UK imports, the OECD report estimates that fake goods imported to the UK were worth £13.6bn in 2016, equivalent to 3% of genuine imports, up from £9.3bn in 2013. The most common imported fakes include mobile phones and accessories, clothes, footwear, handbags, and games.
The value of counterfeit and pirated British goods sold worldwide was estimated at £16.2bn in 2016, up from £13.4bn in 2013 and equivalent to 3.3% of UK manufacturing sales.
UK goods particularly targeted by counterfeiters include perfumes, cosmetics, clothing, footwear, leather goods, telecoms equipment, electronic goods, cars and motorbikes.
In absolute terms, IT kit, particularly mobile phones and computers, were the most counterfeited type of goods, with an estimated value of £2.5bn of fakes imported to the UK in 2016.
In relative terms, clothing, footwear, leather goods and handbags, and toys and games were the most targeted by counterfeiters, with fakes accounting for 9.3% and 8%, respectively, of UK imports from these product categories.
Overall, this fake trade led to estimated forgone sales by UK businesses £9.2bn, or 2.7% of total sales in the wholesale and retail sector. The total volume of UK companies’ forgone sales due to infringement of their IP rights in global trade amounted to £11bn, up from £8.6bn in 2013.
https://www.accountancydaily.co/counterfeit-goods-costing-uk-economy-ps92bn
Lear MoreClub Factory Is Selling Fake Products, Officially? Investigation Reveals Fake Watches, Shoes, Sun Glasses & More
It seems like the Chinese e-commerce company Club Factory is treading literally on thin ice. It has been noted that the Chinese company is selling counterfeit products on its platform, claiming it to be “high quality”, as a desperate attempt to establish a tight footfall in the fiercely competitive Indian e-commerce market.
Over the past 5-6 months the firm has been labelling fake products across categories such as cosmetics, watches, perfumes and footwear as “CF Verified” to garner the trust of the buyer, an investigation on the same reveals.
After constant run-ins with the Indian Customs and GST authorities, Club Factory has some nerve to go ahead and stock its platform with bulks of wide range counterfeit products.
No doubt the Indian e-commerce market is highly fierce and competitive but such an approach to seep into the market doesn’t bring up a gree flag for Club Factory, or so it appears.
A quick search on the app reveals about 20 listings for fake “Titan” watches, with discounts as high as 86%. A watch, retailed originally at Rs 3499 is being offered for as low as Rs 699 on the platform.
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Fake currency gang busted in Delhi, Rs 8.48 lakh in denomination of Rs 2000-notes recovered
An international syndicate, indulging in the circulation of Fake Indian Currency Notes (FICN) in various parts of India, including Delhi and NCR, was busted in Delhi. The special cell team also recovered FICN worth Rs 8.48 lakh in denomination of Rs 2,000-currency notes.
The arrested persons have been identified as Farooq, Shariful Islam, Asif Raj and Mukhtiar Ahmed.
The information was received by the special cell regarding attempts of circulation of FICN by the members of an international syndicate which was bringing counterfeit notes to the national capital and surrounding areas via Nepal and Bangladesh. Secret sources were deployed with specific task to nab the accused.
Surveillance was mounted on the movements of members of this syndicate and requisite intelligence was collected. The efforts of more than four months by the team revealed that FICN is being pumped into India from Nepal and Bangladesh through Indo-Bangla border Malda District, West Bengal. It was also revealed that FICN was being pumped by these racketeers in various parts of the country including Delhi-NCR through this route.
On November 21, specific information was received that one Farooq at Lambu of West Bengal’s Malda district, who is a key member of the syndicate, would reach Delhi at Siri Fort Road Bus Stand at 6 pm to receive a big consignment of FICN from his contact. Having received the above information, police team swung into action and a trap was laid near the said bus stop. At around 6.30 pm, two persons were nabbed with 300 Fake Indian Currency Notes in the denomination of Rs 2000, amounting to Rs 6 lakh.
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Fake Indian currency of Rs 1 crore face value seized in Surat, 5 arrested
The Crime Branch of Gujarat Police has arrested five people here and seized fake Indian currency notes with face value of over Rs 1 crore from their possession, an official said on Sunday.
According to the police, the accused have been identified as Prateek Dilipbai Chowariya, Praveen Chopra, Kadu Chopra, Mohan Madhav and a priest named Radha Raman Swami.
“Based on reliable information, the Crime Branch arrested Prateek Dilipbai Chowariya and recovered fake currency notes with face value of Rs 4 lakh. During interrogation, Chowariya revealed that he, along with some others, had printed fake currency notes with face value of Rs 1 crore,” Deputy Commissioner of Police (Crime Branch) Rahul Patel said.
He said that the police further investigated the matter and busted the entire racket before they could circulate the money in the market.
“Praveen Chopra, Kadu Chopra and Mohan Madhav were also arrested with fake currency with face value of Rs 19, 15 and 12 lakh respectively from Surat,” the DCP said.
Patel said that the accused revealed that they had printed the currency at a house in a Kheda village.
“A temple priest Radha Raman Swami was also arrested from the village with fake currency of Rs 50 lakh. The machine used for printing the fake currency has also been recovered,” he said.
Lear MoreThree held with four kilos gold, Rs 4 crore in Secunderabad
HYDERABAD: Three persons, who were smuggling gold and cash concealed beneath the hand brake of a car, were arrested by the Directorate of Revenue Intelligence (DRI) officials at East Marredpally in Secunderabad on Saturday.
The officials seized 40 pieces of four kg gold biscuits and cash of Rs 4 crore.
Based on specific intelligence, the DRI officials searched a residential house at East Marredpally and found 40 pieces of smuggled gold in a green coloured bag kept in a vehicle parked inside the premises.
A sum of Rs 1.99 crore and sale proceeds of gold was found in another car parked on the same premises.
During the preliminary inquiries, it was found that two persons travelled in a car from Calicut via Mysuru to Hyderabad and were carrying smuggled gold concealed in a compartment beneath the hand brake which is created exclusively to carry gold and money. Three persons were arrested and will be produced in the court.
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CBP seizes 20,000 fake Jamsonic smart watches
Customs officers at International Falls Port of Entry in the US seized almost 20,000 counterfeit smart watches bearing the Jamsonic brand.
Customs and Border Protection (CBP) found the shipment – worth almost $600,000 if genuine – on a train entering the US from Canada that was destined to arrive in Ranier, Minnesota.
The rail container contained smart watches” in violation of intellectual property rights (IPR) regulations,” says the agency.
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Counterfeit Botox seized in Cincinnati
Customs officers at a Cincinnati express consignment facility have seized multiple shipments of counterfeit Botox injections, a wrinkle treatment sold by drug maker Allergan.
The shipments, manifested as “leggings” and “facial gift,” were coming from Shenzhen, China, and were destined to private residences in Alabama, Texas, and Utah, according to US Customs and Border Protection (CBP).
Botox (onabotulinumtoxinA) – a form of botulinum toxin – is restricted by the FDA and cannot be imported into the US without proper documentation. The FDA has issued an import alert detailing which pharmaceutical companies produce legitimate botulinum toxin products and how these products can legally be imported into the US.
At least some of the imported product is in Turkish packaging (pictured), reminiscent of a notorious incident a few years back when counterfeit vials of Roche’s cancer drug Avastin (bevacizumab) – bearing the Turkish trade name Altuzan as well as Turkish packaging and with no active ingredient – were found in the US market.
Lear MoreThree Men Charged In Largest Tobacco Bust In Maryland History, Comptroller Says
ANNAPOLIS (WJZ) — Nearly half a million dollars of untaxed tobacco products have been seized by the state, in what Maryland Comptroller Peter Franchot is calling the largest tobacco bust in the agency’s history.
During early-morning raids on November 5 at multiple spots in Prince George’s County and Baltimore City, agents from the Field Enforcement Division found a large-scale operation to import and distribute untaxed tobacco products and cigarettes in Maryland.
“The work of the agency’s Field Enforcement Division is second to none, and this latest operation to bring down a criminal enterprise demonstrates solid police work and multi-jurisdictional coordination,” said Comptroller Franchot. “As a result, these lawbreakers will be held accountable and Marylanders will not see lost tax revenue going out the door.”
As a result of the year-long investigation, agents seized thousands of cartons of untaxed tobacco products at a storage facility and at six retail locations.
he combined retail sales value of the seized contraband tallies up to $452,850.92- a total tax loss of $286,325.42 to the state.
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Clark customs destroys smuggled cigarette machines
CLARK FREEPORT — The Bureau of Customs-Port of Clark destroyed several units of smuggled cigarette manufacturing machines, counterfeit cigarette master cases and other packaging materials.
At least seven units of cigarette-making machines, one plastic recycling machine, one manual lifter, one generator set, and one generator cooling system that were seized on February 19, 2019 and forfeited on July 26, 2019 were destroyed on Monday, November 18. The forfeited items violated provisions of the Customs Modernization and Tariff Act.
On Tuesday, November 19, two sets of cigarette manufacturing machine, one set of semi-automatic strapping machine, plastic shredding facility, 145 cigarette master cases, packaging materials and tax stamps were also destroyed. These items were seized on March 5, 2018 and forfeited on August 6, 2019 for violation of the CMTA, Intellectual Property Rights Law, National Tobacco Administration Circular No. 3-2014, BOC Memorandum Circular No. 15-2015 and the Bureau of Internal Revenue (BIR) Regulation No. 1-97.
The destruction of the smuggled items is part of BOC-Port of Clark’s efforts to prevent illicit trade and customs fraud.
https://www.sunstar.com.ph/article/1832692
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Man held at Delhi airport for bid to smuggle gold by hiding it in rectum
NEW DELHI: A man was arrested by the customs officials at the international airport here for allegedly trying to smuggle gold into the country by hiding it in his rectum, an official statement said on Monday.
The accused was intercepted after his arrival from Bangkok on Saturday.
On a personal search of the passenger, four pieces of gold were recovered, two concealed in the pockets of his trouser and the rest in his rectum, the statement issued by the customs department said.
The gold, weighing 870 grams in total and valued at Rs 29.56 lakh, was seized and the accused arrested, it added.
On further investigation, another passenger, who too had arrived here in the same plane as that of the accused, was arrested for his alleged involvement in the case.
In another case, a man was arrested for allegedly trying to smuggle gold into the country by hiding it inside a juicer and bluetooth speakers.
The passenger was intercepted after his arrival from Dubai at the Indira Gandhi International (IGI) airport here on Thursday.
A detailed personal and baggage search of the passenger resulted in the recovery of two gold pieces, weighing 462 grams in total, the customs department said.
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