Counterfeit

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Counterfeit

Describing anything fake. In the context of finance, the term is usually used to describe money minted or printed by any person or institution not duly authorized to do so. While counterfeit money is not legal tender, its proliferation may debase the value of money if it is not readily identifiable as fake.
References in periodicals archive ?
Additionally, the MarkMonitor Shopping Report examined multiple demographic factors--including age, income, education levels, and household size--and found there were minimal demographic differences between online consumers who seek out counterfeit goods and those who are simply bargain hunters for legitimate goods.
As a crime which touches virtually everyone in one way or another, counterfeit goods pose a serious risk to consumer health and safety.
Mr Lake said those buying clearly knew they were getting counterfeit goods.
Murtarza Hassan, 24, who pleaded guilty to six counts of offering counterfeit good for sale, was sentenced to six months.
There has to be increased monitoring by the Port Authority to ensure unsafe counterfeit goods never reach stores and the hands of consumers," Hani Redwan, a Saudi citizen told Arab News.
We have had signs up for many years saying counterfeit goods will not be allowed to be sold," he said.
The counterfeit goods, which were destroyed in batches, included bags, shoes, accessories, mobile phones, sunglasses, cosmetics, soap, lotion, and auto parts.
The counterfeit goods of several leading brands, including bags, shoes, accessories, mobile phones, sunglasses, cosmetics, soap, lotion and auto parts were confiscated following field visits and random inspection campaigns conducted by his division.
Omar Shteiwi, chairman of the Board at the BPG and Regional Intellectual Property Adviser for NestlA[c] Middle East, said: "The volume of counterfeit goods in the world according to the BPG figures are $150 billion.
It seized all the counterfeit goods after tracking the fake electric cables and was able to identify those who were receiving these cables and who were then selling them to shops inside and outside the country.
Data published by the European Commission on the number of customs cases against counterfeit goods show that the UK faces a major problem with imported counterfeit products, says City law firm Reynolds Porter Chamberlain (RPC).
We have a duty to protect local consumers which means that our targeted effort to reduce counterfeit goods in the county can result in vast amounts of these being seized," said county councillor Ben Adams.