Fraud busters

News

With the loss to genuine UK manufacturing running into billions an effective anti-counterfeiting programme is a must, says Gary Miller.

The effect of counterfeiting in the UK is profound. In 2004 the estimated loss to this country's manufacturing was £8bn and fake items seized at EU borders topped 103 million.

Reports show that the growing presence of Asian producers in the electronics manufacturing marketplace has had a direct impact on the increase in the circulation of counterfeit parts. Frustratingly, it is incredibly difficult to determine the true cost of the counterfeit trade. Some studies believe it is equivalent to six per cent of GDP. If accurate, its impact on the UK in 2004 was closer to £72bn.

With counterfeiters producing everything from toys and games to aircraft parts and branded drinks, the risk of intellectual property (IP) theft is on the increase. Thankfully, the severity of the problem has prompted governments to act. Our government's introduction of the

and the joint initiative between the EU and US to address counterfeiting are two examples.

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