Counterfeit products hit the market in every industry around the world. In 2015 alone, the number of counterfeit goods seized by EU customs authorities across Europe increased 15% over the previous year, jumping to more than 5 million total units. Globally, the trade in counterfeits during 2015 exceeded $350bn*, with much of the proceeds funding organised crime. These counterfeit products put consumers and businesses at risk. Combating the problem requires help from all sides. At UL, we believe safety is paramount and we work aggressively with other organizations to fight counterfeiting.
Our three-tiered approached – education, enforcement, and partnership – allows us to monitor the global landscape while also helping to identify counterfeit products and reduce their prevalence in the global market.
In a recent European Parliament briefing, “Consumers and Businesses at Risk: Counterfeit Electrical Products Across Europe,” UL and other industry leaders had the opportunity to shed light on this problem while also discussing future work in the areas of anti-counterfeiting education and outreach.
*See main article