Did you know by 2015, the International Chamber of Commerce (ICC) expects the value of global counterfeit goods to exceed $1.7 trillion? That is over 2% of the world’s total currecnt economic output. Not only that, the ICC estimates counterfeit goods are now worth more than 5% of world trade. Counterfeiting varies from money, identification cards, aerospace, and goods.

When you hear of counterfeiting, the first thing that probably comes to mind is money. Counterfeit money that the U.S. government has removed from circulation was $103 million in 2008 to $261 million in 2011. Investigators have estimated that only 10% of dollar counterfeiters are arrested in the country. Most of U.S. made counterfeit cash is made by marijuana and crystal meth dealers. There has been $261 million in fake money seized in circulation in just 2 years. The majority of counterfeit money today is produced using digital printing, compared with less than 1% in 1995.

Identity theft is another problem that we face as well. U.S. customs and Border Protection at O’Hare airport in Chicago seized over 1,700 counterfeit driver’s licenses in just 6 months. A study in 2009 of American university students found that 17% of freshmen and 32% of seniors owned a false ID. The average price of a fake ID is $100, but can go all the way up to $7,000.

Bad goods are another hot counterfeit item. The top counterfeit goods include electronics, shoes, drugs, DVDs, CDS, and clothing. Apparel and accessories accounted for over 50% of the counterfeit goods seized by U.S. Customs and Border Control. The top counterfeited item, electronics, have a seized value of $39 million and a retail value of $101.2 million.

The countries with the most prevalent piracy issues include China, Russia, India, Pakistan, Uruguay, Korea, and the Philippines. Between 2009-2001, over $30 million fake dollars were seized by police in Peru as well. The top consumers of counterfeit goods include China, Russia, Latin America (especially Brazil), Greece, and Italy. So, wherever you are, there is a counterfeiting epidemic that is weighing heavily on the economy.

Check out the infographic below presented by Camcode to learn more about counterfeiting.

Infographic by Camcode