Cost of counterfeiting

Posted on March 24th, 2012

Counterfeit branded products.

In a recent study commissioned by the International Chamber of Commerce’s ‘Business Action to Stop Counterfeiting and Piracy’ (BASCAP) it was estimated that in 2008 in the EU 185,000 jobs were lost due to counterfeiting. Then in 2010, they estimated that the cost in lost wages, lost sales and taxes was 700 billion Euros. And it’s only getting worse.

Asia and Africa are the places where most people associate with counterfeit goods, but the fashion industry estimates that in Russia 37% of designer branded clothing is fake.

Counterfeit drugs.

Counterfeit medicines are the plague of the developing world where according to the World Health Organisation over 50% of drugs on sale in Asia and Africa are fake. They range from random mixtures of harmful substances to ineffective preparations, which can result in treatment failure. This is tragically common in the case of counterfeit anti-malarial medicine, which can be worse than nothing at all – lowering patient’s resistance to this devastating disease. In China in 2009 a poisonous counterfeit of a branded medicine used to treat diabetes killed two people!

Counterfeits are no match for asuraseal.

asuraseal uses the very latest multi-level optical security features combined with a hot-stamped foil tamper-evident seal to create a virtually unbeatable two-way defence against counterfeits.

asuraseal can be used with almost any product packaging material to give your brand and your customers reliable protect against counterfeits.