The BBC is reporting that counterfeit goods  costs the United Kingdom economy £11 billion 2007. 

The scale of the problem is colossal.

Counterfeiting cost Britain around £11bn last year.

Tim Phillips has investigated the global trade in fakes and says it’s having a huge impact on companies’ profits.

“If you look back 20 years the counterfeiting business was 1% of the size it is today,” he says.

“This is an incredibly serious problem for businesses. If businesses had a line in their annual report [detailing] sales we’ve lost due to counterfeits, then a lot would have been done about it by now.”

Learn more at the United Kingdom Counterfeit Goods Market page.