The Bank of China will face a daily fine in the US unless it complies with a court request to give details of customers accused of selling fake goods.

The bank was held in contempt of court in Manhattan last week for refusing to turn over the records.

The state-owned lender is appealing the civil contempt order and fine of $50,000 a day starting on 8 December.

It said it would be violating China’s privacy law if it gave the information.

The records stem from a 2010 lawsuit by a group of luxury retailers including Gucci and Yves Saint Laurent that sued a group of Chinese companies for allegedly selling counterfeits goods like handbags.

The luxury brands had asked US district judge Richard Sullivan to order the Bank of China (BOC) to pay $12m (£8m) to cover their losses from counterfeiting or impose a fine.

http://www.bbc.com/news/business-34981059

 

The integration of both iTRACE 2DMI® with TME® creates a full suite of security and visibility applications for today’s supply chain that are easy to deploy and manage. PRESS RELEASE UPDATED: DEC 1, 2021 07:29 PST MASS Group and iTrace partnership LAS VEGAS, December 1, 2021 (Newswire.com) – Manufacturing Automation & Software Systems, Inc. dba […]

CCL Design is pleased to announce a partnership with iTRACE Technologies, Inc., a leading provider of supply chain security applications for anti-grey and anti-counterfeit markets, which will deliver 2DMI® highly secure smartphone authentication capability to its customers. REDWOOD CITY, CALIF. (PRWEB) MAY 04, 2021 CCL Design has over 20 years experience of developing multi-layered brand protection […]

Reproduced from the original article on pharmatech.com https://www.pharmtech.com/view/package-authentication-depends-on-multi-level-tactics April 18, 2021 Hallie Forcinio Drug product security requires anti-counterfeiting techniques such as authentication throughout the supply chain. On the Internet, dual-level authentication delivers more secure transactions. A similar multi-level strategy is needed to ensure the pharmaceutical product being dispensed to the consumer is the same one […]

Original article posted on Silicon Angle https://siliconangle.com/2020/08/13/honeywell-partners-itrace-embrace-blockchain-printed-labels-supply-chain-management/ UPDATED 12:11 EDT / AUGUST 13 2020 BLOCKCHAIN Honeywell partners with iTRACE to embrace blockchain printed labels for supply chain management BY KYT DOTSON Multinational technology conglomerate Honeywell International Inc. today announced that it has partnered with iTRACE Technologies Inc. to build a blockchain distributed ledger platform that will help with complex supply chain […]