According to recent estimates from the Organization for Economic Co-operation and Development (OECD), counterfeit goods may cost the economy up to $250 billion a year (1).
This is a global epidemic to be sure, with several millions of these products being shipped to the
United States every year. Often when we think of counterfeit items, consumer goods such as high-end jewelry or handbags come to mind. Not only does this cost retailers billions of dollars each year, but we as consumers are also at risk. Imagine lacing up your brand new Air Jordan’s before a game only to realize that you paid the top-dollar for knockoffs worth only a fraction of their cost to you. Frustrating to say the least. Maddening if you think about it long enough. How about life threatening? Probably a bridge too far for a pair of sneakers, but counterfeiting effects
industries that can have a direct impact on our health and safety, as well.
In this paper, we’ll highlight some of the major counterfeiting problem areas, particularly in the
healthcare and medical industries, and discuss how RFID is gaining popularity as a top anti-counterfeiting measure.