FICCI CASCADE Think Tank Meeting
24/7/2018 | ITC Maurya, New Delhi
Illicit trade holistically disrupts the sustainable development of a nation. It not only leads to loss of revenues to states, but also risks legitimate businesses. Besides, illicit trade causes significant threats to the health, safety and security of the citizens, as well as adds to costs on governance, environment and biodiversity. Problem of illicit trade is serious which needs to be dealt with sincere commitment leading to result- oriented effective steps addressing the challenge of counterfeiting and smuggling. In pursuance of the agenda, FICCI CASCADE has constituted a think tank which will advise, direct and provide necessary inputs in formulating a strong & effective course of action to eliminate the menace of illicit trade. The first meeting of the think tank is scheduled on 24th July 2018 at ITC Maurya, New Delhi to discuss factors which will help in mitigating the challenges arising out of illegal trade practices with regards to counterfeiting, smuggling and piracy.
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Burberry burns unsold products worth £28.6 million to guard against counterfeiting; is it ethical?
Reportedly, the retailers said that the measure was much needed to prevent illegal counterfeiting by ensuring the supply chain remains intact.
Luxury label Burberry destroyed unsold clothes, accessories, cosmetic products and perfume worth more than £28 million (more than Rs 250 crore) over the past one year. This step was taken to guard the brand’s intellectual property against counterfeiting. As per Guardian‘s report, in a practice understood to be common across the retail industry, the luxury brand burned products including £10.4 million worth of beauty items. Reportedly, the retailers said that the measure was much needed to prevent illegal counterfeiting by ensuring the supply chain remains intact.
However, industry people and social media users are criticising this act and calling out on how the brands have often shown disrespect for its own produce. To understand if this practice is ethical or not, indianexpress.com reached out to financial advisor Safir Anand, who handle designers like Manish Malhotra and Gaurav Gupta.
Burberry burns unsold products worth £28.6 million to guard against counterfeiting; is it ethical?
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Zimbabwe: 5 arrested for cash and gold smuggling
Zimbabwe police have arrested five persons for attempting to smuggle $4m and 98kg of gold out of the country.
The money and gold were stashed in suitcases, local media reports.
Chronicle newspaper reports that police apprehended the suspects upon tip off about their operation.
Police spokesperson Paul Nyathi confirmed the arrests, saying the suspects were illegally dealing in gold.
They were arrested at the leafy Harare suburb of Borrowdale. Police have confiscated the cash and gold and have launched investigations into the incident.
Zimbabwe’s President, Emmerson Mnangagwa is making efforts to deal with corruption after taking over. Last week Mnangagwa said his government has so far recovered $850m in stolen funds.
Mnangagwa during his swearing in as President last year issued an amnesty for state stolen funds to be returned.
https://africafeeds.com/2018/07/07/zimbabwe-5-arrested-for-cash-and-gold-smuggling/
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Foreign currencies worth Rs 40L seized at Trichy airport
Trichy: Authorities from the directorate revenue intelligence (DRI) secured three people and seized Rs 40 lakh worth of foreign currencies from them at the Trichy international airport.
According to airport authorities, a team of officials from the DRI intercepted the three passengers at the terminal when they were about to board a Sharjah-bound Air Indian Express flight on Saturday morning.
Subsequently, the team seized US dollars and Saudi riyals valued at Rs 40 lakh. The passengers were identified as Afraf Ali, 33, Prem Nazir, 33, Trichy and Mohammed Rizwan, 28, from Chennai.
With this, officials have so far recovered over Rs 1.08 crore worth foreign currency notes in the last five months, sources said.
Aussie border agents seize 57 mln illegal cigarette
SYDNEY, July 5 (Xinhua) — A joint operation led by the Australian Border Force (ABF) has stubbed out an organized crime syndicate and seized over 57 million illegal cigarettes in a year-long investigation.
Aided by the Australian Criminal Intelligence Commission (ACIC) and Queensland State Police, ABF superintendent Leo Lahey said on Thursday that the Illicit Tobacco Taskforce operation was an example of what can be achieved when authorities pool the resources of state, federal and international law enforcement.
“Working collaboratively across agencies in this way will always be critical to success,” he said.
“These seizures also highlight the critical need to combat the illicit tobacco trade.”
Beginning in June 2017, the complex investigation began with a tip-off from ACIC after information came to light that an organized crime syndicate with links to Southeast Asia was operating in Australia and involved in money laundering and the large-scale importation of illicit tobacco.
http://www.xinhuanet.com/english/2018-07/05/c_137302917.htm
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Counterfeit versions of $10,000 Super Bowl rings intercepted by US border control officers
Customs officers in the US have seized a shipment of more than 100 counterfeit replica Super Bowl rings featuring the emblems past champion teams.
If the items of American football-themed jewellery confiscated by border force officials had been genuine, the 108 items would have been worth some $1,080,000.
Authentic replica rings of this nature typically retail for $10,000 each.
The rings, which bore the logos of a number of teams that have won the Super Bowl in previous years, were found in a parcel that had been sent from Hong Kong.
On inspecting the contents of the package, US Customs and Border Protection (CBP) officers noted the poor craftsmanship of the rings, and contacted trademark holder the NFL to enquire as to their authenticity.
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Kerala youth arrested for smuggling gold
Sleuths of the Directorate of Revenue Intelligence (DRI) have arrested a youth from Kerala at the Coimbatore International Airport for smuggling 3.67 kg of gold. The gold bars, 24 of them, were stuffed into the cavity of a steel roller along with fine Arabian sand.
The seized gold is valued at ₹1.15 crore. The passenger, M. Amalraj (25) of Ernakulam, had arrived at Coimbatore airport on Sunday morning from Sharjah on an Air Arabia flight. He was intercepted by DRI sleuths at the airport, based on specific information. DRI officials found that the passenger was carrying a mild steel roller weighing 13.6 kg in his checked-in luggage. Though the steel roller of 100 mm diameter appeared to be a solid single piece of metal, it weighed oddly, raising suspicion among the officials. They took it to a lathe for further examination.
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‘Fakes’ worth P11.8M destroyed at Crame
Authorities on Thursday destroyed some P11.8-million worth of counterfeit goods, including copies of high-end fashion brands, a fraction of the total products confiscated during the first five months of the year worth P6.7 billion.
The activity, which employed heavy equipment that included a road roller, a backhoe, a bulldozer and an armored personnel carrier, was held by the National Committee on Intellectual Property Rights (NCIPR) at Camp Crame.
Witnesses included the representatives of companies whose products were counterfeited, including Louis Vuitton, Lacoste and WD-40, among others.
https://newsinfo.inquirer.net/1005326/fakes-worth-p11-8m-destroyed-at-crame
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P300-M shoes, bags uncovered in Baclaran
Thousands of boxes of fake shoes and bags worth P300 million intended for online selling were uncovered in several warehouses in Baclaran Friday afternoon. The Bureau of Customs uncovered thousands of boxes of fake goods estimated to be worth P300 million in several warehouses in Baclaran, Pasay City.
Customs agents armed with five letters of authority started a series of raids on the warehouses on June 20, Customs Commissioner Isidro Lapeña said.
Counterfeit bags, backpacks, and shoes that imitate a popular brand were found in the warehouses located in Sunjoy Tower, Bagong Milenyo, and New Russel buildings in Baclaran.
“The operation was conducted after the Customs Enforcement and Security Services (ESS) received a tip that fake items are stored in the buildings and this was also confirmed by brand representative Lee Bumgarner Inc. (LBI), brand owner of shoe and apparel brand “Vans”, said Lapeña.
https://news.mb.com.ph/2018/06/23/p300-m-shoes-bags-uncovered-in-baclaran/
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P40M worth of smuggled beauty products, shoes, skimming devices seized
Around P40 million worth of “toxic” beauty products, branded shoes, and skimming devices were seized at the Ninoy Aquino International Airport (NAIA), the Bureau of Customs (BOC) said Tuesday.
According to the BOC, it has seized 6,500 pieces of Goree beauty products, 182 packages of assorted beauty products, 111 pairs of original rubber shoes, and 1,100 skimming devices.
The beauty products, estimated at P8 million, were seized by BOC-NAIA at the Paircargo warehouse.
“These non-Food and Administration Agency (FDA) approved beauty products were disguised as balikbayan boxes declared to contain personal effects and household goods, consigned to Associated Freight Consolidators and other multiple consignees,” Commissioner Isidro Lapeña said.
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