Tag: counterfeit

Amazon has a counterfeit problem and VERITY has the solution

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Amazon has a counterfeit problem and VERITY has the solution for this problem.

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Verity uses Blockchain, Artificial Intelligence (AI) and Internet of Things (IoT) to track trace, certify and verify products. Order here

Amazon’s third-party marketplace is full of independent sellers from a business perspective, the system works great for the e-commerce giant: Amazon sits back and collects fees from those sellers, whose sales on the platform continue to grow. In 2017, for the first time, more than half the products sold on Amazon came from those marketplace listings, rather than from Amazon itself it’s causing at a counterfeit problem for Amazon. Some of the independent third-party sellers have been using the marketplace and fulfilled by Amazon (FBA) as an opportunity to sell counterfeit, pirated and out of date products. The pressure on Amazon has been growing as brands such as Apple, Birkenstock and Louis Vuitton have lasted out for not being able to control the problem. Now, Amazon has acknowledged sales of counterfeits and pirated items as a risk in its annual earnings report to investors and the US securities and exchange commission.

SEC Link Below
Under the section of “risk factors” to the business, Amazon says it “could be liable” for the activities of its sellers, and explains:

Under our seller programs, we may be unable to prevent sellers from collecting payments, fraudulently or otherwise, when buyers never receive the products they ordered or when the products received are materially different from the sellers’ descriptions. We also may be unable to prevent sellers in our stores or through other stores from selling unlawful, counterfeit, pirated, or stolen goods, selling goods in an unlawful or unethical manner, violating the proprietary rights of others, or otherwise violating our policies. Under our A2Z Guarantee, we reimburse buyers for payments up to certain limits in these situations, and as our third-party seller sales grow, the cost of this program will increase and could negatively affect our operating results. In addition, to the extent any of this occurs, it could harm our business or damage our reputation and we could face civil or criminal liability for unlawful activities by our sellers.

Amazon adding third-party sales of fakes to its risk factors signals how big a problem the matter has become. In October 2018, the American Apparel and Footwear Association, a large industry trade group representing more than 1,000 brands, even asked the Office of the United States Trade Representative to add some of Amazon’s overseas marketplaces to the list of “notorious markets” it compiles each year. The list has included markets such as China’s Taobao, which has a reputation of being rife with fakes.

Source documents:
https://www.wired.com/story/amazon-fake-products-project-zero/
https://www.forbes.com/sites/wadeshepard/2017/12/13/how-to-protect-your-family-from-dangerous-fakes-on-amazon-this-holiday-season/
https://qz.com/1542839/amazon-has-finally-admitted-to-investors-that-it-has-a-counterfeit-problem/

VERITY has an exclusive agreement with Chinese Wholly Owned Company EPEM: https://www.1p1m.cn to provide all Country of Origin Labeling “COOL” verification and validation services regarding imports into China with “Made in USA and Product of USA Certified®” claims, to help balance out and provide transparency for the U.S. | China Trade deficit and all COOL claims Tags, Made in USA Certified®, Product of USA Certified®, Made in China Certified™, President Donald Trump, President Xi JinPing, U.S. China Trade Deficit, Amazon.

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Counterfeit on Amazon

forearm-forklift

Amazon.com (AMZN) is finally taking counterfeiters to court.

The e-commerce giant for the first time has filed lawsuits against counterfeit sellers, after a number of businesses on Amazon voiced concern that knockoffs were killing their sales and endangering consumers.

On Monday, Amazon filed suit against a group of sellers for infringing on athletic training equipment developed by TRX. In a second case, Amazon sued sellers who are offering fake versions of a patented moving product called Forearm Forklift.

Last month, CNBC.com featured Forearm Forklift , a Southern California company that has been crushed in recent years from counterfeiting on Amazon. Mark Lopreiato, the founder of the company, which makes straps for lifting and moving heavy equipment, said he submitted more than 100 cease-and-desist letters to sellers and takedown notices to Amazon, yet fakes have continued to proliferate. Continue reading “Counterfeit on Amazon”

Fake Chinese parts in US-made arms leave India at risk

New York: India, a big buyer of American arms, is understandably concerned by a key US senate committee report that finds vast numbers of counterfeit Chinese electronic parts are being used in US military equipment. Where does it leave India if suspect parts have crept into US-built aircrafts and missiles it has bought or put on its shopping list? The failure of a single electronic component could put an Indian airman or soldier at risk.

Over a 14-month investigation, the Senate committee’s investigative staff amassed a database with 1,800 cases of counterfeiting involving about 1 million parts. It found that 70 percent of the suspect parts were traced to fly-by-night, unscrupulous Chinese companies who supplied electronics and other computer chips to large US defence manufacturers.

Picture courtesy Boeing
India will acquire ten C-17 Globemaster-III aircrafts from Boeing for $4.1 billion, which will be delivered in 2013.

Defence Minister AK Antony told the Rajya Sabha in a written reply on Wednesday that India was verifying if “faulty spare parts made in China” were used in defence equipment being sold by the US to India.

“There have been media reports in this regard, which are being verified,” Antony said this week.

According to Bloomberg, the US Air Force had in January this year suspended a company called Hong Dark Electronic Trade Co., in Shenzhen (in southern China), from supplying parts to US contractors after it supplied about 84,000 fake components to a middleman, who then sold the suspect electronic parts to Boeing, Lockheed Martin, Raytheon, L-3 Communications, among others.

Bloomberg quoted Air Force Deputy General Counsel Steven Shaw’s memo saying; œMany of the 84,000 electronic parts from Hong Dark have been installed on aircraft such the C-17 transport and helicopters such as the AH-64 Apache and CH-46.”

Given Shaw’s memo, India should double-check what it is paying for when it receives new aircraft. The first of the 10 Boeing C-17 Globemaster III aircraft ordered last year will be delivered to the Indian Air Force in June next year. India is forking over $4.1 billion (Rs 22,960 crore) to buy the US Air Force’s workhorse used extensively in Iraq and Afghanistan, making it the largest defence contract to have been signed by the two governments.

Antony listed some of the other US military equipment India had bought in the last five years. Last year, India purchased an amphibious transport vessel, the USS Trenton (re-christened INS Jalashwa), for nearly $50 million with six-UH-3H helicopters to operate alongside, costing another $49 million.

It also bought Harpoon anti-submarine missiles under a package worth $200 million, and long-range acoustic devices, modern hull penetrating periscopes, side scan sonar, C-130J transport aircraft, sensor-fused weapons, P-8I long range maritime reconnaissance aircraft and quick reaction team boats from the US.

One reason India is beefing up its arsenal is China, which has been expanding its military and modernising its equipment at a tear. This has triggered a simultaneous build-up of advanced weaponry in the Asia-Pacific region on a scale and at a speed not seen since the Cold War arms race between America and the Soviet Union.

India has purchased some $12.7 billion in arms, 80 percent of them from Russia, during 2007-2011, according to the Stockholm International Peace Research Institute (SIPRI). India and the US want to eventually move beyond a seller-buyer relationship to substantial co-production and eventually, high-technology joint research and development of weapons.

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Original Post: http://www.firstpost.com/world/fake-chinese-parts-in-made-in-usa-arms-leave-india-at-risk-414524.html