The high cost of fraud

Piracy in Europe causes €3,500 million loss

The OAMI offices in Alicante

NEWS Staff Reporter

RECENTLY released figures show that the market in counterfeit goods across Europe is causing manufacturers to lose more than €3,500 million a year and the tax authorities in each state are losing upwards of €1,100 in unpaid revenue.

The full extent of the counterfeit goods industry was laid bare by the Oficina de Armonización del Mercado Interior (OAMI) from its headquarters in Alicante.

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