Counterfeit goods cost EU businesses €83 billion a year, officials warn
Nearly 5% of goods entering the EU are counterfeit, costing businesses an estimated €83 billion annually. Customs officials say the fake goods trade has expanded far beyond luxury items.
Counterfeit products are increasingly slipping into the European Union's supply chains, with recent estimates suggesting nearly 5% of all goods entering the bloc are fake. The scale of the problem costs businesses an estimated €83 billion every year.
At the port of Alicante in Spain, officers from the EU's anti-fraud office OLAF and Spanish Customs inspect shipping containers, searching for counterfeit goods concealed among legitimate cargo. Experts say illicit trade has evolved into a sophisticated global business model that no longer targets only luxury items, but now extends to car parts, electronics, pharmaceuticals and food.
Safety risks from fake car parts
Counterfeit automotive components are considered especially dangerous, since they bypass the safety testing required for genuine parts. This means vehicles fitted with such components may not meet established safety standards.
Officials also warn that purchasing counterfeit goods indirectly helps fund other serious crimes, including drug trafficking and human trafficking. Consumers are being urged to think twice before buying suspiciously cheap products that appear too good to be true.
