The American economy loses $250 billion as a result of counterfeit products each year, according to a recent report. Despite the impact, only a fraction can be detected and confiscated by the government.
Approximately $1.26 billion worth of counterfeit goods originating overseas were seized by the U.S. Customs and Border Protection (CBP) in 2012. Each seizure averaged $10,450 worth of counterfeit goods. In 2011, $1.11 billion worth of goods were seized by federal officials. The three most confiscated items in 2012 were handbags and wallets; watches and jewelry; and wearing apparel and accessories. 24/7 Wall St. reviewed the 10 most counterfeit items seized in 2012, based on their retail value.
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