Counterfeit currency notes have doubled after demonetization: NCRB

According to a report by National Crime Records, counterfeit Indian currency notes worth Rs 28.1 crore were seized in 2017 which is just double from the previous year’s mark of Rs 15.9 crore.

The report highlights that the new Rs 2000 note released after the November 2016 demonetization, accounted for Rs 14.97 crore of the currency seized in 2017.

The total number of notes confiscated by authorities was 3,55,994 -a rise of 26% from 2,81,839 seized in 2016. Among these there are 65,731 old Rs 1000 notes, 1,02,815 were old Rs 500 notes, 8,879 were new Rs 500 notes and 92,778 were Rs 100 notes.

With the announcement of demonetization on 8th November 2016, Prime Minister Narendra Modi had said that the move would help in fighting black money, corruption and terror funding. However, the NCRB said that the country’s bank received an all-time high amount of counterfeit currency. The report also adds that banks received an all-time high amount of counterfeit currency.

While talking to the news website The Print, an expert said that the reasons behind the rise of fake currency in India is that the government introduced new currency notes at different stages as well as the new colors.

On the other hand, N.R Bhanumurthy, Professor at the National Institute of Public Finance and Policy felt that it is a positive outcome of demonetization that people are now at least able to distinguish between fake notes from genuine ones.

Source: The Print

Benefits of warehouse management system from Holostik

A warehouse is a building for storing goods. Warehouses are used by manufacturers, importers, exporters, wholesalers, transport businesses, customs, etc. They are usually large plain buildings in industrial areas on the outskirts of cities, towns or villages. The advancement in IT-enabled technology has led to the development of specialized warehouse management systems which help in monitoring and managing the everyday operations in a warehouse.

The warehouse management system keeps a tab on the incoming and outgoing goods, picking and shipping of orders and inventory updates. A warehouse management system can be a standalone system or a part of an enterprise resource planning system.

A highly customized warehouse management system can reduce the likelihood of errors that can happen when a product is shipped. The system can also help a company to fulfil orders more rapidly and can trace the ordered products within the warehouse.

Holostik provides a customized warehouse management system. Our functional experts visit your warehouse and production facility to have a clear understanding of your warehouse, before developing a unique warehouse management system as per your specific needs.

Our advanced warehouse management system works on the concept of FIFO (first-in first-out).

Now let’s understand how our warehouse management system operates.

When your product is manufactured in the factory, our warehouse management system updates you about the location at which your product will be kept in the warehouse. The system determines the location of your incoming product in the warehouse according to its expiry date and other qualities. As per FIFO, our warehouse management system also helps in dispatching the product further in the supply chain from the central warehouse.

Here are three main benefits of our customized warehouse management system:

  1. Rise in the productivity of the staff or workers.

  2. Proper management of goods in the warehouse as per FIFO.

  3. Right assessment of storage space available in the warehouse.

In order to get avail of our advanced and customized warehouse management system, you can call us on +91–785-785-7000 or mail us at connect@holostik.com.

How to stay safe from counterfeits this festive season

The start of the festive season marks the beginning of huge discounts, alluring deals, cashback offers and a lot of other perky things. These enticing offers instantly catch your attention and motivate you to avail them at the earliest. Seeing a huge slash in prices you are tempted to buy your favourite items. However, many times these offers are too good to be true and you may receive a counterfeit or spurious product in the garb of a festive offer.

So before making the purchase you must consider certain points, let’s discuss the same.

Look closely at the labels and packaging

Look at the labels, packaging, printing and the text closely. If you notice any flaw in the spellings, grammar, print quality or any other discrepancies then it could be a sign of counterfeit. Also, be cautious of products that include a ‘Made in China’ unless and until the product is merchandise manufactured in China, perform a web search for it.

Buy from an authorised dealer

Always go for an authorised dealer while purchasing or replacing products. This is highly important in a scenario where you are purchasing or replacing spare parts for automobiles, aeroplanes and other items.

Are there no taxes?

Always be cautious of deals which allow you to purchase without value-added tax, sales tax etc. This is usually in case of counterfeits which evade huge amount of taxes every year.

Purchase from a secure e-commerce website

Try to avoid purchasing from websites that do not have https in their domain. The ‘s’ in https stands for secure which is generally used by authorised and credible websites. Legitimate retailers will always ensure that their customers buy through a secure setting and are not duped with counterfeits.

Is the deal too good to be true?

One of the biggest giveaways for consumers is that ‘a deal is too good to be true’. Seasonal discounts or factory prices are fine but if the prices are too low compared to the regular price of the product then there are high chances that the product is a counterfeit. Take a cue from this and thoroughly check the labels and tags of the product.

Look for holographic and digital authentication

Last but not least is to visually identify security holograms or digitally authenticate QR codes and bar codes printed on the product. Due to the rise of counterfeiting companies are using security holograms and QR codes on their products. Security holograms are 3D holographic devices with optical properties and show different images or features corresponding to the angle of viewing. Try to view the holograms from different angles and you will be able to notice the different colours and images in it. There are also other covert features which can only be viewed with special instruments. For QR code authentication you will require a QR code scanning mobile application which will determine the genuineness of the product.

To know more about our products and solutions call us on +91–785-785-7000 or mail us at connect@holostik.com.

FDA finds traces of Asbestos in Johnson & Johnson’s baby powder

In a latest trouble for Johnson & Johnson, the international giant that manufactures medical devices, pharmaceutical and consumer packaged goods, the Food and Drug Administration has found traces of toxic asbestos were found from a bottle purchased in the US.

This is not for the first time that J&J has been caught for using asbestos. Last year, the Drug Controller General of India (DCGI) has ordered the company to stop using talc from its plant in Mumbai and Himachal Pradesh.

In the latest development, J&J is voluntarily recalling its lot which consists of 33,000 bottles and has urged the customers who bought the product not to use them.

The company is also claiming that the company is cooperating with the FDA to investigate how and when the product was contaminated.

FDA has further recommended the consumers to stop using the lot immediately and ask for a refund from J&J. The FDA had tested another lot of J&J’s baby powder which was negative for asbestos.

Source: ibtimes.com

An overview of anti-counterfeiting products offered by Holostik

Established in the year 1991, Holostik was inspired by the idea of ‘social entrepreneurship’ and not just reaping profits. Today, the company is one of the pioneers in the anti-counterfeiting industry of the country and, has achieved enormous success through its vision of continuous innovation, use of latest technology, inherent value system, and sustainability to create a long-term impact on the society. Right from the provenience, the company has been innovating with technologies and in the span of 28 years; it has left an indelible mark in the anti-counterfeiting industry.

From FMCG to Pharmaceutical, Automobile to Apparel & Fashion, Government to Personal Care, E-Commerce to Liquor, Tobacco to Telecom -summing up to more than 16 industries, the company provides niche and highly sophisticated anti-counterfeiting solutions.

Let’s discuss the different anti-counterfeiting products:

Security Holograms: Security holograms, are the perfect solutions to fight to counterfeit. Providing product security, holograms are made by using an aluminum sheet which after many processes get optical properties to diffract light and create virtual 3D effects that cannot be copied. At Holostik, we use the latest master origination and holographic techniques to provide the best security holograms.

Security Labels: Security labels are the first communicators of a company, its brand image, the product’s personality. We not just make different types of security labels but create an identity that will effectively reflect your brand to your customers and protect it from tampering and counterfeiting. Security labels are one of the most difficult things for the counterfeiters to duplicate. With the combination of holography strip onto any paper label, we not only make it much secure for our clients but also make it almost impossible to copy or replicate by adding an extra layer of security.

Tax/Revenue stamps: Our tax stamp encompasses a variety of technologies that are combined with strong product authentication, holographic & non-holographic features. We make tax stamps that are tailored to customer-specific needs and are designed to protect tax revenues and fees.

Hot stamping Foil: Hot stamping is a permanent process in which a part of the object is marked with a properly formulated foil. Hot Stamping can withstand the harsh conditions of nature. On using a metal die on a plastic part, branding can be done at the same time. Even if the color fades or wears off, the branded image will remain.

Wads: Holographic wads or holographic sealing liners are induction sealing wads/liners which prevent leakage, tampering, contamination and unauthorised dealing of various home and pharmaceutical products used in everyday life. These wads help in concealing and closing the mouth of products which in turn keep them secure from spilling or tampering.

Shrink Sleeves: Shrink sleeves have become the leading packaging application and are being used majorly in many industries like beverages, food, dairy, paint, cosmetics, detergents, etc. Our custom printed shrink sleeves are known for their aesthetic appeal and functional adjustability. On applying heat, these sleeves reduce in size and conform tightly to the shape of the container or product, creating a sleek label and product package. Having brilliant artwork and designs on them, these sleeves are perfect for marketing and brand promotion.

Security Pouches: Pouches are ideal solutions for flexible packaging and unique identification of brands and products. Our high-quality holographic pouches not only authenticate the product but also add to its visual appeal. These pouches are a combination of premium quality rotogravure printing technology and the highest level of optical security features.

Holographic Wide Web Films: Holostik provides a wide array of Holographic Wide Web Films or Holographic Laminates (packaging films) that are available in various specifications as per the client’s specific requirements. The films are made using premium quality raw material and known for their self-adhesiveness, clarity, quality, and shine. These holographic laminated films and holographic paper are excellent to curb counterfeiting as they offer complete protection and avoid tampering.

To know more call, us on +91–785-785-7000 or mail us at connect@holostik.com.

 

Fake screen? New feature in iPhone 11 will warn you

Global electronics giant Apple has started a new feature in its latest iPhones. The new feature will display a warning on the iPhone 11, 11 Pro and 11 Pro Max if the display screen in not genuine after a repair or service.

Apple said that notification would appear on the iPhone with a fake screen for four days after the problem has been detected. Thereafter, it would move to the main settings menu for 15 days. Finally, it will be pushed away to Settings -> General -> About.

The company stated in a post, “Replacements not performed by Apple authorized service providers or certified technicians might not follow proper safety and repair procedures and could result in improper function or issues with display quality or safety. Apple displays are designed to fit precisely within the device.”

Moreover, the repairs that do not replace the screws and cowlings might leave behind loose parts that could damage the battery because of overheating, etc. The firm recently unveiled the three iPhones at its event in California.

The new iPhones are upgraded versions of last year’s iPhone XR, iPhone XS, and iPhone XS Max will come along with iOS 13- the most advanced operating system from Apple.

Source: Economic Times

Why packaging is more than just grabbing eyeballs?

Packaging plays an important role in the product and the company. Some of the best products in the world have the most remarkable packaging. From holographic corrugated boxes to glittering pouches, beautiful wrappers to eye-catching shrink sleeves the list seems endless.

Market experts consider packaging as the first communicator of the company. Branding gurus have always laid emphasis on making the product packaging alluring. The idea behind it is to increase the product’s visibility on the market shelves.

Creative taglines, the attractive pallet of colors, shape, size, and convenience of packaging are some of the most important points before creating a packaging solution. However, this is just a small part of the overall picture and packaging has many other important roles in product supply, sales and company growth.

Besides branding and marketing the product, an ideal packaging must also secure it from counterfeiting, tampering or diversion in the supply chain. No wonder, the element of security is vital for making the packaging effective.

Here are 4 points which define the ‘element of security’ in product packaging.

  1. Even if a product is sturdy, it doesn’t mean that it cannot suffer damage in the supply chain. All kinds of products require safe and secure packaging for protecting them against any kind of harm.
  2. Secure packaging is also important for keeping the product temperature proof especially if it is a consumable good. Products are transported through long distances which takes days, in such scenario a durable and temperature proof packaging is of utmost importance.
  3. Holographic packaging like security labels, anti-tampering labels, security holograms plays an important role in protecting the product from counterfeiting and tampering.
  4. Nowadays barcodes and QR codes are printed on the packaging of the products. These digital codes, not just hep in authenticating the product but also help in tracking and tracing the product in the supply chain.

If you want customizable and effective secure packaging solutions for your products, then call us on +91–785-785-7000 or mail us at connect@holostik.com.

Counterfeit drugs creating a challenge for the regulators in India

According to Government-sponsored studies around 3% of medicines in the Indian market are of poor quality or are counterfeit. However, a report published by ASSOCHAM said that 25 percent of medicines sold in India re either counterfeit or of poor quality. Generic drugs like Crocin and Betadine have earned a bad name due to the menace of counterfeiting.

According to former International Pharmaceutical Federation vice president Prafull D. Shah, “Any study showing a higher percentage of Indian drugs as substandard or fake serves the interest of foreign pharma companies since Indian companies have always posed them a threat.” He also said that he had asked ASSOCHAM for the data based on which they provided the 25% figure however they never provided it to me.

The BJP government in 2003 had appointed an expert committee to assess the regulatory infrastructure and the scope of the problem of fake and cheap drugs in India. The panel admitted that there was an absence of scientific and detailed investigation to reveal the exact estimate.

The committee also said, “The Central government should provide assistance to undertake such scientific and statistically-significant study for a clear picture about the exact extent of spurious drugs in the country.”

In 2006-07 with the support of WHO around 7500 samples were collected and tested from across the country out of which 3.12% were of poor quality but the presence of spurious drugs was negligible.

In the second survey, conducted by the Central Drug Standards Control Organisation (CDSCO), a total of 24,780 samples were tested from around 40,000 pharmacies, of which 644 were “SALA (sound-alike and look-alike)”.

Going by raids conducted in the past few years, prominent places where counterfeit drugs are manufactured and sold in wholesale include Baddi in Himachal Pradesh, Agra, Aligarh, Bulandshahr and Muradnagar in Uttar Pradesh, Patna in Bihar and several places in West Bengal.

Source: OutlookIndia.com

What are the negative impacts of counterfeiting in the tobacco industry?

Did you know that counterfeit cigarettes can contain arsenic, pesticides and even rat poison? Well, there have been numerous instances across the world where authorities have seized large stocks of fake cigarettes, phoney cigars and other cheap grade tobacco products.

According to a report by UK daily Independent, “Almost 45 billion fake cigarettes, which can contain arsenic, pesticides and rat poison, are smoked in the UK each year.”

However, the problem of fake tobacco is on the global scale and different countries are facing the onslaught of counterfeit tobacco products. According to a report by FICCI CASCADE, “The illicit tobacco market is expected to grow by 16% by 2020.”

Such alarming figures point towards a grim scenario where not just tobacco product manufacturers but also the consumers will have to face many negative outcomes. Some of the harmful effects of fake tobacco products are as follows:

  • Fake tobacco items bring down the sale of legitimate manufacturers and suppliers.
  • Counterfeit tobacco products lead to massive revenue losses every year for the government.
  • Fake tobacco products are highly toxic for the consumers and thus jeopardize their health.
  • Counterfeit tobacco products lead to an increase in other forms of criminal activities.

Experts believe that a rise in tax, high prices of tobacco goods lead to the popularity of counterfeits. Governments are now strictly dealing with the sale and supply of fake tobacco products. Customs officials and police authorities are keeping a close watch of criminal networks dealing in the trade of fake tobacco products. Besides government monitoring, use of different anti-counterfeiting solutions is also safeguarding tobacco-based products against duplication.

Holostik is one of the pioneers in providing high quality customised anti-counterfeiting solutions. The company provides a gamut of security products to the tobacco industry which includes tax stamps, security holograms, security pouches, wide web films etc.

To get anti-counterfeiting products and solutions from us call us on +91–785-785-7000 or mail us at connect@holostik.com.

Fake mobile phone industry booming in India

Counterfeit mobile phone industry is on a rise in India. The curved finish, apps, sensors and the camera make it difficult for the consumer to determine the genuineness of the mobile phone. One should be cautious if the such mobile phones are being offered at a fraction of the price.

Recently, India Today TV’s special investigation team has found a market of counterfeit mobile phones. Large number of such fake mobile phones are now manufactured in Delhi.

At Nehru Place, Delhi’s famous market for electronic goods, computer hardware and software, technicians assemble iPhones from smuggled parts and sell them at cheap prices.

After further investigation it was revealed that a technician at a Laptop store in Nehru Place promised to deliver 50 pieces of iPhone’s 6s model for Rs 11,000 a device which is one-third of the original cost. He also gave the investigating team a demonstration of his counterfeiting skills as he opened the handset having the Apple logo. He revealed how smuggled goods are used to make fake handsets.

Another technician said that he can make 30-40 iPhone handsets in a day.

One technician revealed that he can make 30-40 iPhone handsets a day. Many mobile phone stores have become mini-factories of fake iPhones with three people fabricating dozens of pirated devices manually — and without any state-of-the-art equipment.

According to the Authentication Solution Providers’ Association, counterfeit products in the country cause Rs 1 lakh crore of annual losses across various sectors. Trade in pirated goods has risen steadily in the last few years, with volumes in fake products now standing at 3.3 percent of the total global business, the ASPA says.

As early as 2015, Nehru Place was on the United States Trade Representative’s list of notorious markets. But India Today TV’s SIT found some tech impostors at Nehru Place have now graduated from being sellers to manufacturers of counterfeits.

Source: Indiatoday.in