• May 19, 2024

Report: Counterfeiting Poses Serious Risk

 Report: Counterfeiting Poses Serious Risk

Image: Andrii Yalanskyi | Adobe Stock

Photo: Andrii Yalanskyi

The Intellectual Property Crime Threat Assessment 2022 report by the EU Intellectual Property Office and Europol shows that piracy and counterfeiting pose a serious threat to the European economy as well as people’s health and well-being.

Imports of fake and illicit goods reached €119 billion ($129.61 billion) in 2019, which represented 5.8 percent of all goods entering the EU zone.

More than 66 million counterfeit items were seized by EU authorities in 2022 as pharmaceuticals, food items, cosmetics and toys, among other goods, were targeted by criminals and counterfeiters who took advantage of the pandemic.

Tobacco products, too, feature prominently among counterfeited products.