DECEMBER 20248THE FIGHT AGAINST COUNTERFEITINGBy M.R.Yuvatha, Correspondent, siliconindiaNowadays, it's not just the horror of fake people that haunts individuals, but also the ever-growing presence of counterfeit goods that threaten their lives in ways they least expect. Presently, everywhere, there are rampant counterfeit goods-from fake luxurious accessories to counterfeit medicines-that impact the sense of reality at every turn. They always find themselves between what is real and what is not. Much like fake people wearing masks of sincerity, counterfeit products are hidden as high-quality leading consumers to make choices that could affect their safety, finances, and well-being. The need for observance has never been greater.First, Let's Understand About Counterfeiting & Anti-Counterfeiting?Counterfeiting is the illegal production of products, branded or trademarked which is produced without permission and sold as genuine products.Anti-counterfeiting is about policies and technologies that prevent or deter counterfeit supplies. It takes the form of security features, legal actions, and market monitoring in order to protect the consumer and the brand.For Example!In most countries like China fake iPhones are sold at a relatively lower price therefore, consumers are actually being step out to buy fake products, which possess the features of the original. They will not have the quality and safety standards of the real product, so leading to financial loss for the brand as well as potential harm to consumers.The War on Fake ReviewsGlobal markets for counterfeit goods have evolved into one of the largest industries, now exceeding $1 trillion per year in sales, and that entails everything from high-end luxury goods to electronics, pharmaceuticals, auto parts, cosmetics, and everyday consumer goods. Unbounded by geography, all this has been facilitated by globalization, so too has the emergence of complex distribution networks in the developing of cross-border traffic of counterfeits. Given that there is no verification process on most online platforms, counterfeiters can sell almost anything; this ranges from imitation Rolex watches and Louis Vuitton bags to fake iPhones, designer perfumes, and even counterfeit medication at a fraction of the price that authentic products would cost. However, more often than not, these imitations do not come anywhere close in terms of quality and durability to their respective brands.Recently, the government introduced a new set of standards in 2024 that make it compulsory for e-commerce companies to follow quality rules regarding consumer reviews-fallout of the failure of voluntary measures to control fake reviews. The Column
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