Dangerous Fakes: The Truth Behind Counterfeit Products

Dangerous Fakes: The Truth Behind Counterfeit Products

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Counterfeit products are an enormous problem for businesses all over the world, from consumer goods, to software, to pharmaceuticals, counterfeits have become nearly ubiquitous. Counterfeiters easily (and conservatively) cost brand owners many hundreds of billions of dollars each year. Given the low risk of getting caught, high profit margins and often lackluster and uncoordinated enforcement regimes, fighting counterfeits is an ever-growing challenge for brand owners.

All counterfeits can present risk to consumers, but counterfeit food, beverages, pharmaceuticals and related personal care items which have been improperly formulated or which contain ingredients that are can be particularly harmful. Significant impact ranging from mild inconveniences to consumers, to life-threatening situations can befall consumers, some (perhaps many) who do not know they are purchasing a counterfeit. Moreover, in the specific case of pharmaceuticals, the lack of active ingredients can deprive consumers of the possibility to treat diseases effectively, thus prolonging illnesses that would otherwise be treatable.

This panel will define the problem of dangerous fakes, explain the real risks presented to consumers, discuss what brand owners can and should do to mitigate problems and more.