The ‘fakes’ industry is worth $461 billion
Think twice before you buy those shoes online. The shady business of “fakes” and counterfeit goods has ballooned into a global industry worth as much as $461 billion, according to a new report from the Organisation for Economic Co-operation and Development.
Counterfeit trade amounted to as much as 2.5% of world trade in 2013, up from an estimated 1.9% in 2008. That’s equivalent to the size of Austria’s economy.
Global data on customs seizures shows Rolex, Nike, Ray Ban and Louis Vuitton were the brands with the most knockoffs.
Nike Shoes Among Most Counterfeited Goods in the World
The market for fake goods is on the rise, with international trade in counterfeited or pirated products valued almost a half a trillion dollars.
The Organization for Economic Cooperation and Development released a report today that said international trade of “fakes” represented 2.5 percent of overall world trade, or $461 billion, in 2013. That’s equivalent to the gross domestic product of Ireland and the Czech Republic combined.
http://abcnews.go.com/Business/nike-shoes-counterfeited-goods-world/story?id=38485256
Lear MoreAbbott and Beingmate get involved in “fake” milk powder scandal in China
Abbott and Beingmate have got involved in China’s latest milk powder counterfeiting scandal. Chaotic sales channels of infant formula should be blamed for such counterfeiting scandals in China, according to analyst CCM. China Food and Drug Administration confirmed that Abbott and Beingmate got counterfeited in Shanghai fake milk powder case in China last Saturday (Apr. 9). The counterfeit infant formula under brand names of Abbott and Beingmate in China flew into the milk powder market in Henan, Anhui, Jiangsu and Hubei. Currently, the trace of 3,300 cans of fake Abbott is still unknown.
75,000 counterfeit sunglasses seized at Mumbai port
At least 75,000 counterfeit sunglasses of top brands were seized by the Customs department at the city port terminal. The investigating officials said that the seized sunglasses are counterfeits of various brands including Ray Ban, Prada, and Lacoste. The seized consignment was part of a container which arrived from China last week. The officials said that the seizure was made based on specific inputs. “If sold in the open market as originals, the estimated worth of the consignment was around Rs 25 crore,” the official said.
The sources said that of the total 75,000 pieces , over 73,000 fake sunglasses carried the logo of Ray Ban company. The consignment was imported by a company called Genius Trading Company.
http://www.dnaindia.com/mumbai/report-75000-counterfeit-sunglasses-seized-at-mumbai-port-2077580
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Underhand resellers under fire as Fair Trading seizes thousands of fake Apple, LG, Samsung, Huawei and Motorola products
“Retailers should not be selling unapproved products and consumers should avoid buying them by being careful in their purchases.” Fair Trading authorities have raided a string of dodgy resellers across New South Wales, seizing thousands of unapproved and counterfeit products, including fake USB phone chargers.
In revealing the outcome of recent captures across the state, NSW Fair Trading Commissioner Rod Stowe confirmed that at one premises in particular, as many as 4,573 items were found and have been seized.
Counties told to enforce rules on fake products
County governments have been asked to customise the Anti-Counterfeit Act to fight substandard goods. An Anti-Counterfeit Agency official said it will be easier to fight counterfeits if counties customise the 2008 counterfeit law.
“Counties need to join in this fight to end sale of counterfeits, especially those products made in specific counties,” Edith Kosgei said. “We are working round the clock to ensure businesspeople in counties do not produce substandard goods,” she said.
http://www.the-star.co.ke/news/2016/04/13/counties-told-to-enforce-rules-on-fake-products_c1329682
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Oman launches programme for identifying fake mobile devices
Consumers in Oman who are buying a mobile phone can now make sure if the product on offer is genuine or fake.
The Telecommunications Regulatory Authority (TRA) on Wednesday launched a new automated programme that enables consumers to identify fake mobile devices, including tablets and mobile phones.
Cigarette smuggling causing over Rs 20bn loss annually
The country suffers an annual loss of over Rs 20 billion owing of illegal tobacco trade as international smugglers have allegedly forge a nexus with Federal Board of Revenue (FBR) to target local cigarette manufacture companies through a fake report. According to local cigarette companies, smuggled cigarettes are available in the market despite the presence of the intelligence directorates general of the Customs Department and the Federal Board of Revenue (FBR).
“If FBR effectively checks non-duty paid items, smuggled items would not be available in the federal capital,” the companies said, adding that the main reason for the failure to control cigarette smuggling was lack of efforts by the agencies.
http://dailytimes.com.pk/islamabad/13-Apr-16/cigarette-smuggling-causing-over-rs-20bn-loss-annually
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Alibaba to combat product counterfeiting and piracy
Alibaba Group has become the first e-commerce company to join the International AntiCounterfeiting Coalition (IACC) – the world’s largest non-profit organization dedicated to combating product counterfeiting and piracy. “Preserving the integrity of Alibaba’s marketplaces is a top priority. Counterfeiting is a global, industry-wide issue, and effective collaboration with brands, retailers, trade associations, governments and other industry partners is a key component to our overall success,” said Matthew Bassiur, Vice President and Head of Global IP Enforcement at Alibaba Group.
“IACC membership will further enhance our earnest efforts to forge closer relationships with brands as we continue to explore and implement innovative solutions to address counterfeiting. We strongly value our partnership with the IACC and its members and are proud to be a part of this prestigious coalition.”
http://postandparcel.info/72377/news/alibaba-to-combat-product-counterfeiting-and-piracy/
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60 per cent water, juice in Kenya is counterfeit – KRA
More of the water and juice on the Kenyan market is counterfeit, KRA has said, noting the loss of billions of shillings in revenue. Commissioner general John Njiraini said they are keen on taming the sector to ensure customers receive quality products and taxes are paid.
“The water and juice sector is one of the fastest growing industries in the country but statistics indicate over 60 per cent of the products are illicit,” he said.
In an address in Naivasha at the weekend, Njiraini announced plans to introduce the excise stamps management programme to the sector.