CHINA FAKES / COUNTERFEIT CRACKDOWN – China’s Banks a Safe Haven for Online Counterfeit Stores


CHINA FAKES / COUNTERFEIT CRACKDOWN – China’s Banks a Safe Haven for Online Counterfeit Stores

She typed “Tiffany Elsa Peretti mesh earrings” into Google and chanced upon a pair of the $450 earrings for — deal of deals! — $32. Five lawsuits filed in the United States against counterfeiters reveal a pattern: Counterfeiters sold fakes online in the U.S., using credit cards or PayPal. Then, records show, they transferred millions to accounts at two of China’s largest, state-owned banks — the Bank of China and the Industrial and Commercial Bank of China — as well as China Merchants Bank.

In one of two lawsuits, Tiffany & Co. seeks $58.5 million in damages in a New York federal court from an online counterfeiting ring that spans three continents. Tiffany said it traced PayPal transfers to Bank of China, ICBC and China Merchants Bank accounts, and also found that the Bank of China was processing credit card payments for one defendant. A Latvian bank handed over details about the illicit money flows, but the Bank of China refused to cooperate, U.S. court documents show.

Gucci is seeking $12 million in damages in a New York federal court from a counterfeiting ring it said sold millions worth of fake handbags and wallets to U.S. consumers.

International Anti-Counterfeiting Coalition, a non-profit industry group whose members include Apple Inc., Procter & Gamble and Tiffany & Co.

websites selling counterfeit goods since 2012. IACC records of account closures show the Bank of China and two other state-controlled banking giants — the Bank of Communications and the Agricultural Bank of China — processing payments for counterfeiters. Shanghai account obtained on the order of a New York court, cracked a network that shipped dangerous counterfeit blood glucose test kits for diabetics to 600 U.S. pharmacies. china chinese official counterfeit luggage “brand names” “top brands” products luxury bank banking “bank account” “bank of china” hsbc haven “safe haven” ecommerce online “online shopping” shopping “credit card merchant” “accept payments” fake goods jewellery discount cheap u.s. usa america “united states” assets privacy savings “savings account” information risk profit credit loan “credit card” 2015 2016 law sale toys retail trading warning news entertainment account “elite nwo agenda” copy watch rolex hublot cartier louis vuitton prada real vs fake alex jones infowars rant exposed fake britain documentary end game fake eggs china factory apple foxconn foxxcon gerald celente trends in the news anonymous david icke shenzhen fake shopping mall demcad uk border force control louis farrakhan hong kong ladies market fakes digitalrev tv

The U.S. also restricts access to financial information, but allows judges to order disclosure for lawsuits anywhere in the world. The U.K., Hong Kong and Singapore have similar provisions that can be used to fight transnational crime.

The Bank of China said the U.S. lawsuits had put it in an “impossible position,” caught between “U.S. court orders that compel BOC to freeze, turn over or disclose information about bank accounts in China, and Chinese law, which requires the bank not to freeze or turn over accounts in China.” cosmetics marketplace Alibaba Group Holding Ltd said it had a range of measures to fight counterfeits on its websites – remarks that come after a trade group requested U.S. government help in prodding the Chinese e-commerce giant into action against fake goods. Fake Xiaomi Mi Power Banks sell more than the original, complains Xiaomi

Rogue resellers are disguising cheaper Nikon DSLRs to look like more expensive models But now Nikon has issued a fresh warning notice reporting fake D610s too. They’re actually APS-C D7100 bodies – outwardly very similar – disguised as the full-frame D610. Taobao

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