A load of counterfeit Winnipeg Jets jerseys destined to be sold in the city has been seized by RCMP.
The Canadian Border Services Agency and RCMP's federal enforcement section intercepted an air freight container with 190 fake jerseys on Sept. 29 in Winnipeg.
The jerseys were manufactured in China and shipped to the city, RCMP said.
The retail value of the jerseys is estimated to be in excess of $76,000.
For full story, please visit CBC Canada.
Counterfeiting is Now the World's Fastest Growing Industry
In August this year, a few weeks prior to the 2011 World Cup, the SARS seized 66 000 counterfeit rugby jerseys, with an estimated street value of R43 million.
Despite this, vendors continue to ply their trade in counterfeit rugby jerseys and other paraphernalia on street corners, traffic islands, and outside the pubs and watering holes where rugby fanatics sport their Springbok t-shirts and cheer on their heroes with the green and gold flag.
Read more at Marketing Web.
Two Firms Charged for Smuggling Fake Goods
The Bureau of Customs (BoC) charged two companies for smuggling counterfeit products at the Department of Justice today.
Joel A. Macaraeg, the proprietor of Multikarat Enterprises, and broker Carlos A. Dacaymat, Jr. were sued by the BoC for allegedly importing P7 million worth of fake Energizer batteries and declaring the counterfeit goods as replacement parts to avoid detection.
Moreover, Graciano M. Tumabat, proprietor of Sarae Trading, and broker Joseph D. Espiritu were charged for bringing in P5 million worth of fake Konzert speakers.
For full story, please visit Business World.
Fake Designer Sunglasses Seized at LA Seaport
Authorities in Los Angeles have seized more than 30,000 pairs of fake Lacoste sunglasses from China.
U.S. Customs and Border Protection said Wednesday that officers made the seizure on Sept. 15 at the Los Angeles/Long Beach Seaport.
The sunglasses were valued at $48,000. If genuine, the sunglasses would have been worth $4.5 million.
Please visit SF Gate For more on this story.
Kenya Region's Top Fake Goods Market: Report
The counterfeit industry, according to Termites at Work: A report on Transnational Organised Crime and State Erosion in Kenya, is worth Sh70 billion and rivals key foreign exchange earners tourism, tea and coffee.
The industry thrives because Kenya is the biggest economy in the region and goods move fast.
The report, launched in Nairobi this week at a policy forum co-hosted by the International Peace Institute and Africa Centre for Open Governance, says China and India are the key sources of counterfeit goods in the East African region.
For full story, please visit Daily Nation.
Fake Luxury Goods Bust
FOUR suspects were detained and more than 1,000 luxury goods were confiscated as authorities cracked down on a store in a downtown office building that was selling fake luxury goods, police said yesterday.
The products were mainly bags, accessories and watches of 21 brands including Louis Vuitton, Gucci and Rolex.
Police said they received a tip early this year that the store, hiding in a commercial building on Jianguo Road M., was selling counterfeit bags, suitcases, wallets and watches.
For full story, please visit Shanghai Daily.
The Dangerous World of Counterfeit Prescription Drugs
Counterfeit prescription pharmaceuticals are a growing trend, widely recognized as a public health risk and a serious concern to public health officials, private companies, and consumers.
In some countries, counterfeit prescription drugs comprise as much as 70 percent of the drug supply and have been responsible for thousands of deaths in some of the world’s most impoverished nations, according to the World Health Organization (WHO).
In most of the world’s developed countries, however, effective regulatory systems and market controls cause an extremely low proportion of counterfeit drugs, usually below 1 percent. Even so, patients in developed countries can be affected by counterfeit drugs, and deaths linked to them occur every year in the U.S. and Western Europe—and even more often in South America, Asia, and Africa.
To read more on this story, please visit CNBC.
Fake iPhones Hit China Before the Real Thing
Fake versions of the rumored new iPhone 5 are available already in China, Sky News reported Tuesday.
Apple is reported to be preparing to unveil the fifth generation of its top-selling smartphone in California on Tuesday -- although some speculate the scheduled event could merely be a showcase for an upgraded iPhone 4S.
The specifications of the genuine iPhone 5 are a tightly-held secret, but at the Fangshitong Market in Beijing, fake handsets sell for as little as $43 each.
Read more at Fox 5 Money.
Insight: Gucci, Tiffany Target Chinese Banks
(Reuters) - Two Western luxury-goods giants are taking a controversial tack in the fight on Chinese knockoffs, by targeting the U.S. branches of major Chinese banks that allegedly do business with the pirates.
But the copycat-fighting strategy faces resistance from a surprising source: the Federal Reserve Bank of New York, which sees the cases as a threat to the large community of foreign banks operating in America's financial capital.
European luxury-goods conglomerate Gucci Group and American jewelry house Tiffany & Co. have each alleged in federal court that major Chinese state-owned banks are maintaining bank accounts for counterfeiters in China who are shipping fake designer goods into the U.S.
The banks - Bank of China, China Merchants Bank and the Industrial and Commercial Bank of China - all have branches in New York. The luxury-goods makers have petitioned to have the banks freeze assets in accounts owned by the alleged counterfeiters and turn over information about the clients.
For full story, please visit Reuters.
Consequences of Counterfeiting: It's in the Bag
For centuries, Istanbul has been a hub of global commerce. Stroll around the Grand Bazaar, though, and it’s striking what the most popular products these days are. Not carpets, not Turkish delight… but rather, knockoff handbags, scarves, and clothing. From Hermes to Louis Vuitton, Chanel to Prada, the season’s hottest styles are available on most street corners for pennies on the dollar.
“Fashion houses make so much money, they won’t miss it,” some people say. “The real thing is too expensive,” say others. “It’s just a purse.” At the end of the day, however, these are just rationalizations – and ones with serious consequences.
Read more at TownHall.com.
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