The ‘fakes’ industry is worth $461 billion
Think twice before you buy those shoes online. The shady business of “fakes” and counterfeit goods has ballooned into a global industry worth as much as $461 billion, according to a new report from the Organisation for Economic Co-operation and Development.
Counterfeit trade amounted to as much as 2.5% of world trade in 2013, up from an estimated 1.9% in 2008. That’s equivalent to the size of Austria’s economy.
Global data on customs seizures shows Rolex, Nike, Ray Ban and Louis Vuitton were the brands with the most knockoffs.
Related Posts
RCMP reveals details of its $92-million plan to erect a 700-kilometre surveillance fence along the Canada-U.S. border
A massive intelligence-gathering network of RCMP video cameras, radar, ground...
Illinois Man Denies Cancer Drug Smuggling Conspiracy Charge
An Illinois man pleaded not guilty Tuesday to conspiring with an online Canadian...
Noida: Two arrested for smuggling e-cigarettes, cannabis
Noida (Uttar Pradesh) , February 24 (ANI): The Uttar Pradesh police on Saturday...
Duterte faces Senate today on rice smuggling
DAVAO CITY , Philippines – Mayor Rodrigo Duterte is set to appear before a...