AliExpress Fined Record $629 Million by Europe for Selling Counterfeit Products

The European Union has hit AliExpress with a record $629 million fine for allowing counterfeit and harmful products to be sold on its platform. It is the largest such penalty ever imposed by the EU on an e-commerce platform. The fine reflects Europe's tightening enforcement of rules holding online marketplaces responsible for third-party sellers' illegal goods.