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Home MOBILES NEWS Semiconductor Shortage Led to Record Wire Fraud Cases Faced by Desperate Buyers:...

Semiconductor Shortage Led to Record Wire Fraud Cases Faced by Desperate Buyers: Report

A extreme semiconductor scarcity has resulted in file wire fraud instances final yr reported by determined consumers, an organization that tracks counterfeit and fraud within the chip business stated on Tuesday. ERAI stated in 2021, there have been 101 wire fraud instances reported to the US-based agency, up from 70 in 2020 and 17 5 years in the past.

Firms searching for chips they may not discover by way of authorised and vetted distributors had been attempting to purchase them from shadier brokers and transferring funds for items that by no means bought delivered, ERAI president Mark Snider stated.

Reporting is voluntary and a lot of the wire fraud was by chip brokers in China, he stated.

Whereas there’s a authorities counterfeit components database referred to as GIDEP, or Authorities-Trade Knowledge Trade Program, it does not enable nameless reporting, making ERAI the primary database that firms use for navigating counterfeit chip issues and reporting fraud, based on business consultants.

Nonetheless, the newest information confirmed that the variety of counterfeit chip incidents reported to ERAI in 2021 was 504 and in 2020, they had been 463. That is a pointy drop from 963 in 2019.

Snider stated China’s pandemic-related shutdowns may very well be making it more durable for counterfeiters to function and likewise stated counterfeits are more and more extra refined, evading detection.

The information was launched on the Symposium on Counterfeit Elements and Supplies organized by the Middle for Superior Life Cycle Engineering, a analysis facility at College of Maryland and business group SMTA.

Diganta Das, the counterfeit researcher heading the convention stated the ERAI information was an excellent indication of traits.

The actual quantity, nevertheless, was prone to be considerably bigger as a result of firms fearing model injury usually choose to not report counterfeit chip purchases.

© Thomson Reuters 2022


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