Counterfeit goods in 2018 caused an estimated $323 billion worth of damage to the global economy. But what counts as counterfeit goods? There are two main types of counterfeit goods: knock-off and pirated items.

Knock-offs are a close imitation of designer products and copyrighted works. Pirated items are copyrighted works that are copied and reproduced without permission. More than 1 in 4 customers reported unknowingly purchasing non-genuine goods online. Fake goods are commonly found as well in seemingly innocent platforms such as search engines and mobile apps.

Avoiding fakes is important in keeping you, your property, and the economy safe from harm. Counterfeit goods rarely comply with safety regulations which can lead to major damage to property and people. Counterfeits merchants can also easily steal personal information due to unsecure information on counterfeit websites.

Even cryptocurrency is at risk. Trusted crypto callets like Trezor have warned of nearly indistinguishable fake versions of their hardware capable of stealing users’ protected currency.

Three out of 10 people didn’t realise they had even bought a fake item until damage was done. 10% of medical products in developing countries are fake, including crucial medicines, leaving consumers susceptible to illness and death.

Find out how to recognize and stay away from counterfeit goods here.