THE MAGAZINE

Counterfeiting

If you're wearing clothing by Armani or Burberry, carrying a bag by Coach or Louis Vuitton, or wearing a watch by Cartier or Rolex, you might want to take a closer look. These are a few of the most frequently knocked-off brands based on incidents compiled by counterfeit-intelligence analysts Gieschen Consultancy of Canada. In the last quarter of 2004, Gieschen tracked more than 560 incidents in 52 countries, worth about $1.15 billion. In more than half the cases, China was the country cited as the source of counterfeit goods, but other countries distinguished themselves as well. Finland reported the most incidents of counterfeit toys, India tallied the highest number of counterfeit perfumes and cosmetics, Russia notched the largest financial loss as a result of counterfeit drugs and industrial goods, and South Africa and the United States tied as being "the most diverse dumping ground for counterfeit goods from multiple countries of origin," according to Gieschen. Financial instruments, such as cash and checks, were the most profitable items to counterfeit ($642 million), followed by medications ($215 million), digital entertainment and software ($119 million), other documents such as tickets and degrees ($98 million), and electronic equipment and supplies ($26 million). Read more via SM Online.

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