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What Does Being Counterfeit Mean?

To counterfeit is to imitate something genuine with the goal of stealing, destroying, or replacing the original, or otherwise deceiving people into believing that the imitation is of equal or greater value than the genuine article. Counterfeiting is the production of fake money for profit. It is a type of forgery in which something is reproduced in order to cheat by passing it off as the genuine piece. Due to the obvious high level of technical skill necessary to counterfeit money, counterfeiting is distinguished from other forms of forgery and classified as a different crime. Anti-counterfeiting legislation varies little from country to country, owing to a diplomatic meeting conducted in Geneva in 1929 that resulted in a convention ratified by 32 major powers. Almost all of the states that gained its independence after 1929 have since recognised this agreement.

Counterfeiters of both their own and other currencies are punished in these countries. Extradition may be used to prevent criminals from eluding justice by travelling from country to country. Although counterfeiting is generally considered a felony punishable by imprisonment, the mere act of participating in counterfeiting, the possession of counterfeiting equipment, the transfer of fraudulent money, or the holding of such money usually carries less severe consequences. Genuine bills also have another distinguishing feature: the use of an unique cotton and linen paper created especially for the government printing office and containing microscopic blue and red silk fibres. A border pattern formed of a lacelike network of fine white lines created by a geometric lathe is a third characteristic of government-printed bills. Interpol, an international police organisation, was founded largely to coordinate the battle against counterfeiting. Several governments have employed a variety of physical safeguards to prevent money counterfeiting in addition to strict legal requirements. Both printed notes and struck coins in the United States contain distinctive traits that, when viewed closely, reveal whether the money is real or counterfeit.

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The low quality of lines in the bill's engraving is one of the more evident characteristics of a counterfeit note. The line-intaglio method, which is used to print bills, generates tiny lines with a distinct sharpness and easily detectable changes in ink thickness. Genuine bills also have another distinguishing feature: the use of an unique cotton and linen paper created especially for the government printing office and containing microscopic blue and red silk fibres. A border pattern formed of a lacelike network of fine white lines created by a geometric lathe is a third characteristic of government-printed bills. The detection of counterfeit money will be aided by a close examination of this feature for distinct, unbroken lines. The test of rubbing a banknote against a piece of paper to determine its authenticity is ineffective since a genuine bill will emit ink just as readily as a counterfeit bill. Coins are not counterfeited as frequently as bills in the United States, partly because to their lower value. Another reason coins are less frequently counterfeited is because the usage of silver in coin manufacture (10- and 25-cent pieces) has decreased by 50% since 1965. Because counterfeit coins are frequently cast rather than struck, they have a lack of definition, thin plating, and occasionally even microscopic globules that show where the metal infiltrated porous regions of the mould.

What Is An Example Of Counterfeit?

From big-name brands frequently advertised in media to opioid pills containing excessive amounts of fentanyl, counterfeit pharmaceuticals pose a clear threat to consumer health. As the advertisements explain, name-brand pills can provide a number of unwanted side effects. But, with counterfeit pills, consumers face additional side effects and allergic reactions. What they may be is anyone’s guess, because exactly what’s in the pill will likely be unknown. Counterfeit painkillers add to the United States’ already severe opioid problem. Counterfeit pills are especially big in foreign markets, where counterfeiters sell the most by faithfully recreating the labels, bottle and material aspects of the pills.

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What Are The Categories Of Counterfeit?

Electronics- Counterfeit electronic components have proliferated in recent years, including integrated circuits (ICs), relays, circuit breakers, fuses, ground fault receptacles, and cable assemblies, as well as connectors. The value of counterfeit electronic components is estimated to total 2% of global sales or $460 billion in 2011. Counterfeit devices have been reverse-engineered (also called a Chinese Blueprint due to its prevalence in China) to produce a product that looks identical and performs like the original, and able to pass physical and electrical tests.

Media- Compact Discs, videotapes and DVDs, computer software and other media that are easily copied can be counterfeited and sold through vendors at street markets,[52] night markets, mail order, and numerous Internet sources, including open auction sites like eBay. In some cases where the counterfeit media has packaging good enough to be mistaken for the genuine product, it is sometimes sold as such. Music enthusiasts may use the term bootleg recording to differentiate otherwise unavailable recordings from counterfeited copies of commercially released material. In 2014, nearly 30% of the UK population was knowingly or unknowingly involved in some form of piracy, either through streaming content online or buying counterfeit DVDs, with such theft costing the UK audiovisual industries about £500m a year. Counterfeits are particularly harmful to smaller, independent film-makers, who may have spent years raising money for the film. As a result, the value of intellectual property becomes eroded and films are less likely to be made.

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What Is The Economic Impact Of Counterfeit?

Pharma- According to the U.S. FBI, the counterfeiting of pharmaceuticals accounts for an estimated $600 billion in global trade, and may be the "crime of the 21st century." They add that it "poses significant adverse health and economic consequences for individuals and corporations alike." The World Health Organization (WHO) estimates that over 30% of pharmaceuticals in developing countries are fake, stating that "Anyone, anywhere in the world, can come across medicines seemingly packaged in the right way but which do not contain the correct ingredients and, in the worst-case scenario, may be filled with highly toxic substances."