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
Fifth person charged in plot to smuggle narwhal whale tusks into US, says Department of Justice
BANGOR, Maine — The U.S. Department of Justice announced Friday that a fifth...
How things have changed thanks to the nanny state
I HAD to smile at the headline 'Investigators smoking out smuggled tobacco' March...
Anti-graft panel zooms in on Sabah
From clamping down on illegal logging in Sarawak, the country’s graftbusters have...
Fake Medications May Be Widespread, But Who Knows?
If you take a medication for your blood pressure, you expect your pill to be what...