MONEY LAUNDERING AND TERRORISM IS THE REALITY OF THE FAKES TRADE
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.