Counterfeiting, duty evasion and other forms of illicit trade are a substantial and growing problem across all market sectors, leading to increased calls for businesses to make use of highly secure product and brand authentication programmes.
Estimates of the global value of counterfeit and illicit product sales vary widely. As the trade is illegal, official records of sales are not published so estimates of the sales of counterfeiting differ significantly. However, the undisputable fact is that all the estimates come up with staggering numbers representing a significant proportion of the global economy. Current estimates range from around US$700 bn per year (Havoscope) to US$1.7 trillion (ICC). This totally unregulated trade impacts everyone; brand owners, governments, consumers and the environment.