WCO WARNS OF COUNTERFEITING EPIDEMIC
The World Customs Organization warned government leaders that an increasing trade in counterfeit goods may help fund terrorist activities.
WCO representatives told members of the World Economic Forum in Davos, Switzerland, that the value of this illicit trade could be as high as $450 billion.
The majority of counterfeit goods seized by customs administrations include clothes, compact discs, videos, perfumes, computer software, cigarettes, and watches.
However, the WCO has seen a trend in counterfeit goods of everyday products, such as laundry detergent and shampoo. Customs administrations have also experienced increased seizures of pharmaceuticals and aircraft and auto parts.
The WCO told the forum that it has put in place “effective detection programs through the sharing of information, the development of model legislation and by encouraging the establishment of close working partnerships with business interests.”
The WCO said these programs help governments to meet their responsibilities under the World Trade Organization Agreement on Trade Related Aspects of Intellectual Property Rights, which identifies the importance of border measures to control counterfeit trade.