The counterfeit goods market has become a $500 billion global industry – and it is only growing.
According to the European Union’s Intellectual Property Office (EUIPO) and the Organisation for Economic Co-Operation and Development (OECD), the illicit goods market has spiked 100 percent in the last decade. The report found that counterfeit goods account for 3.3 percent, or roughly $600 billion, of international trade, up from $250 billion in 2008.
Who is leading the way? Just as you expect: China.
And what do the people want? It’s mostly apparel:
– Footwear
– Clothing
– Leather goods
– Watches
– Jewellery
Of course, there’s also a demand for electrical equipment, medical equipment, and pharmaceuticals.
But if you think these unscrupulous are selling their knockoffs in dark alleyways, then you’re not aware of the dark web. A lot of these illicit goods are being sold on the Internet – with the right password, cryptocurrency, and account, you can get anything.
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