Counterfeiters

Finance Ministry data shows a fourfold rise in fake Rs 500 notes since 2018 and Rs 2,000 counterfeits tripled since 2021

The fake currency used to dupe the owner of a Ahmedabad-based bullion firm used misspelled Reserve Bank of India as 'Resole Bank of India'

The notes use printed patterns to generate holograms of the portraits facing different directions, depending on the angle of view

An individual may possess one counterfeit item per type for personal use only, not for sale. Possession of quantities exceeding this limit is prohibited, as per US Customs and Border Protection rules

Online marketplace Amazon invested more than USD 1.2 billion and hired about 15,000 experts in 2023 to protect the brand, its sellers, and customers from fraud and counterfeit, according to the Amazon 2023 Brand Protection Report. Amazon said when a customer purchases from the store, they trust they will receive an authentic product, and when businesses choose to sell in the store, they trust Amazon to provide a great selling experience free from competition with bad actors. "In 2023, Amazon invested more than USD 1.2 billion and employed more than 15,000 people, including machine learning scientists, software developers, and expert investigators, who were dedicated to protecting customers, brands, selling partners, and our store from counterfeit, fraud, and other forms of abuse," it said. Amazon said it uses document forgery detection, advanced image and video verification, and other technologies to confirm the authenticity of government-issued identity documents quickly and whethe

Pakistan's central bank has announced that it will introduce new currency notes with enhanced security features to deal with the menace of counterfeit currencies in the cash-strapped country. The Governor of the State Bank of Pakistan Jameel Ahmed told the media here that the currency notes will be incorporated with advanced international security features, including distinct security numbers and design to modernise the Pakistani currency. Ahmed also said the transition would be gradual so that Pakistan does not face disruption and public panic problems as has been witnessed in some other countries in the past. However, some financial experts wonder whether the introduction of new currency notes could also include demonetisation of the Rs 5,000 or higher denomination notes to combat the counterfeit and black money market. According to experts, cash-strapped Pakistan's economy is influenced a lot by the illegal use of black money which is easier due to the circulation of higher ...

An e-commerce platform cannot become a haven for infringers of intellectual property and have such a system which provides an avenue to counterfeiters, the Delhi High Court has said. The court observed that e-commerce websites are commercial ventures and are inherently profit oriented, which is not objectionable, but they have to protect intellectual property rights of others. "An e-commerce platform cannot become a haven for infringers. Men are not angels. Where easy money is visible, the conscience at times takes a nap," said Justice C Hari Shankar in a recent order. "E-commerce websites are commercial ventures, and are inherently profit oriented. There is, of course, nothing objectionable in this; but, while ensuring their highest returns, such websites have also to sedulously protect intellectual property rights of others. They cannot, with a view to further their financial gains, put in place a protocol by which infringers and counterfeiters are provided an avenue to infringe a

SoftBank-backed e-commerce firm Meesho has delisted nearly 42 lakh counterfeit and infringing product listings and 10 lakh restricted products in the past six months, the company said on Wednesday. The total deactivated products account for less than 5 per cent of the total products listed on Meesho's platform, a company official said. Meesho said its "Project Suraksha" systems has detected and blocked over 12,000 bad actor accounts from accessing the platform. "The project has yielded impressive results, with nearly 42 lakh counterfeit and infringing product listings and 10 lakh restricted products deactivated in the past six months. Since February, there has been a 80 per cent reduction in platform views for non-compliant listings, they now represent a mere 0.1 per cent of platform views," Meesho said in a statement. Meesho Founder and Chief Technology Officer Sanjeev Barnwal said the company leveraged advanced techniques in computer vision and natural language understanding to

Almost 25-30 per cent of all products sold in the country are spurious with counterfeiting being most prevalent in apparel and FMCG sectors, followed by pharmaceutical, automotive, and consumer durables, a report said on Monday. Apparel tops the list with 31 per cent counterfeit products, while fast moving consumer goods or FMCG (28 per cent), and automotives (25 per cent) are the other major segments where consumers come across counterfeit products, followed by pharmaceuticals (20 per cent), consumer durables (17 per cent), and agrochemicals (16 per cent), a joint report by Crisil and the Authentication Solution Providers Association said. As much as 27 per cent of consumers are unaware that products are counterfeit at the time of purchase, but 31 per cent willingly purchase spurious products, the report said. The report covered 12 cities of Delhi, Agra, Jalandhar, Mumbai, Ahmedabad, Jaipur, Indore, Kolkata, Patna, Chennai, Bangalore, and Hyderabad. According to Suresh Krishnamurt

Jaspal Singh IPS, Director General of Police, Goa informed that awareness is the first step towards enforcement as the problem of trade in illicit products emanates from the lack of awareness.

Says 1.5 mn jobs lost because of such trade; FMCG sector worst affected

Snapdeal, along with four Indian shopping complexes, two of them in New Delhi alone, have figured in the latest 2020 Review of Notorious Markets for Counterfeiting and Piracy

The report also said counterfeiters are having a free-run due to the pandemic-driven disruptions to organised supply chains and the resultant spike in consumer demand

The Office of the U.S. Trade Representative on Wednesday cited allegations of counterfeit goods sold on the Seattle-based online retailer's websites in Canada, Germany, France, India and the UK

Over 7,000 brands have already enrolled in Project Zero across US, Europe and Japan. A number of Indian brands participated in a pilot to help the company test the experience in India