Anti-Counterfeiting
The Growth of Counterfeiting
There was a time when counterfeiting was restricted to luxury goods sold in western markets. That has all changed.
It is estimated that the international trade in pirated and counterfeit goods now exceeds US$200 billion per annum. This is equivalent to between 5 and 7% of global trade and puts counterfeiting on a par with drug trafficking.
The surge in counterfeiting comes as a direct result of international criminals being attracted into the counterfeit business. Contributory factors include:-
· the globalisation of consumer goods brands, including pharmaceuticals
· the availability of low cost manufacturing in certain regions of the world
· the opening up of international supply chains
· the difficulty of detection
· weak legal protection for trade marks in parts of the world
· penalties that are often derisory (and insignificant versus those for drug trafficking)
Given the above, counterfeit versions of everyday brands are now available across the world, including in Africa.
Find out how Africa Matters Ltd can assist your business?
Why are Counterfeit goods a problem?
Counterfeit goods are generally sub-standard and can pose genuine risks to consumer health and safety. This is not only for counterfeit food and pharmaceutical brands; it is equally relevant to fake car parts, electrical goods, cement etc.