EU fines AliExpress 550 mil. euros over selling illegal products

The European Union has fined AliExpress 550 million euros on Monday. The EU said the online retailer failed to adequately prevent the sale of illegal products.

The platform is part of the e-commerce giant Alibaba Group. The commission spokesperson, Thomas Regnier, said, "The company itself reported that almost 15 million illegal products were recommended last year to users in the European Union."

He added that these items were mostly "unsafe and counterfeit products, such as cosmetics, toys, clothes, or gadgets, to name just a few." The commission asked AliExpress to submit an action plan by October 20. AliExpress issued a statement saying it disagrees with the decision and the "disproportionate" fine. The company also said it will appeal the decision.