Alibaba Spends $160.7 Mln Tackling Counterfeit

(RTTNews) - Chinese e-commerce giant Alibaba Group Holding Ltd. (BABA) said it has invested more than $160.7 million focusing on tackling counterfeit and enhancing consumer protection, from the beginning of 2013 till end of November this year.

The company plans to add another 200 people next year to the task force of over 2,000 workers already engaged in handling the counterfeit effort. The company has also enlisted around 5,400 volunteers to assist with daily online surveillance and selective inspection.

Alibaba noted its cooperated with Chinese law enforcement agencies in over 1,000 counterfeiting cases this year. As a result, 400 suspects from 18 counterfeiting rings were arrested while 200 brick and mortar stores, factories or warehouse involved in production and selling of counterfeits were closed.