E.U. targets counterfeiters
TEXT OF INTERVIEW
SCOTT JAGOW: The E.U. may move closer today to a Europe-wide penalty for counterfeiting and piracy. Our correspondent Stephen Beard joins us from London. Stephen, what are the particulars?
STEPHEN BEARD: This measure, if passed, would impose and harmonize a Europe-wide criminal penalty for counterfeiting and intellectual piracy. And we’d be talking about up to four years in jail and fines of up to $120,000 — three times that amount, $360,000 if it’s organized crime involved or there’s a risk to health and safety in counterfeited goods.
JAGOW: Well Stephen, how bad of a problem is counterfeiting in Europe?
BEARD: It is particularly a problem in Britain actually. You go to markets here and you’ll see designer handbags, jewelry, cosmetics, perfumes all branded but the branding is not what it seems. They are in fact fake. It’s a huge industry in the U.K. They reckon the profits are something like $17 or $18 billion a year.
JAGOW: OK Stephen, thank you.
BEARD: OK Scott.
JAGOW: Stephen Beard in London.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
