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Global Illicit Trade and Illicit Financial Flows
Bjelić, Predrag
Kastratović, Radovan
Rajković, Miloš
Abstract: In this paper, the authors analyse the patterns of illegal flows of goods and money in the world economy. The aim of this work is to point out the importance, trends and international standards of illicit trade of goods and illicit financial flows in the global economy. The illicit trade consists of sale of counterfeited goods globally. The counterfeit goods are goods, often of inferior quality, made or sold under brand name without the brand owner's authorization, infringing the intellectual property rights of the brand owner. This trade in counterfeit goods causes not only economic damage, but also poses additional risks to citizens, including health and safety risks to person using the goods. Many international organisations, like Organisation for Economic Co-operation and Development (OECD) and the European Union Intellectual Property Office (EUIPO), are trying to quantify the world trade in counterfeit and pirated products. OECD-EUIPO studies estimated that trade in counterfeit and pirated goods was up to 2.5 % of world trade in 2013, and even 3.3% of world trade in 2016, which was around 509 billion USD. The statistics on trade in counterfeit goods comes from customs seizures data originating from national customs administrations. Most of the customs seizure data comes from the World Customs Organization (WCO), the European Commission’s DirectorateGeneral for Taxation and Customs Union (DG TAXUD) and from the United States Department of Homeland Security (DHS). In the European Union (EU) imports of counterfeit and pirated products amounted to 119 billion EUR in 2019, which represents up to 5.8 % of EU imports. The illicit financial flows consist of movement of money across borders that is illegal in its source (e.g. corruption, smuggling), its transfer (e.g. tax evasion), or its use (e.g. terrorist financing). The statistics on illicit financial flows are gathered by UN Conference on Trade and development (UNCTAD), United Office on drugs and Crime, World Bank, Global Financial Integrity (GFI) etc. These flows have important economic impact because they strip the country of necessary financial resources.
engleski
2023
Ovo delo je licencirano pod uslovima licence
Creative Commons CC BY-NC-ND 4.0 - Creative Commons Autorstvo - Nekomercijalno - Bez prerada 4.0 International License.
http://creativecommons.org/licenses/by-nc-nd/4.0/legalcode
Keywords: Illicit trade, trade in counterfeit goods, illicit financial flows, world trade