MONEY LAUN­DER­ING AND TER­ROR­ISM IS THE RE­AL­ITY OF THE FAKES TRADE

7 Days in Dubai - - SPECIAL REPORT -

Scor­ing a con­vinc­ing fake Mul­berry or Louis Vuit­ton hand­bag for a frac­tion of the cost may be on many a Dubai tourist’s wish list. But ev­ery sale aids a global coun­ter­feit trade linked to poor work­ing con­di­tions, crime and even ter­ror­ism. In April, the Or­gan­i­sa­tion for Eco­nomic Co-op­er­a­tion and De­vel­op­ment (OECD) and the EU In­tel­lec­tual Prop­erty Of­fice placed the fake goods trade - which also in­cludes fake med­i­cal drugs, chil­dren’s toys and fake car parts - at worth al­most half a tril­lion US dol­lars a year. The study, the au­thors said, “con­tra­dicts the im­age that coun­ter­feit­ers only hurt big com­pa­nies and lux­ury goods man­u­fac­tur­ers”. The vast ma­jor­ity of goods - 63 per cent - came from China, although the UAE was ranked eighth in the list of coun­tries where the most goods orig­i­nate.

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