Fake goods 'cost businesses €750m a year'

Fake goods cost Irish businesses an estimated €750 million and threatens 250 jobs a year, the Anti-Counterfeiting Group (ACG) said today.

The ACG, which represents manufacturers, distributors, licensees and retailers in 30 countries, joined representatives from the Department of Enterprise, Trade and Employment, the Garda, and Revenue today to emphasise the wider economic implications of buying fake goods.

"Product counterfeiting hits everyone in the poicket. Legitimate businesses lose sales, which means less jobs; the treasury loses revenue which means less funds for schools and hospitals," said Mr John Anderson, ACG executive secretary.

Mr Anderson said there was evidence organised crime groups and terrorists were involved in the illegal trade.

The Deparment of Enterprise, Trade and Employment said it was supporting the Garda and the Revenue to crack down on counterfeiting.