ID :
73877
Wed, 08/05/2009 - 16:38
Auther :
Shortlink :
https://oananews.org//node/73877
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Sharjah's CCPD seizes over 40,000 counterfeit goods in H1 2009
Sharjah, Aug 5, 2009 (WAM) - The Commercial Control and Protection Department of Sharjah has confiscated and destroyed approximately 40,000 counterfeit goods during first half of the present year, strengthening UAE continuing efforts to fight curb trade in counterfeit products and ensuring intellectual property protection.
In UAE any convicted case of fraud is punishable by a maximum sentence of up to three years' detention, or a fine of up to Dh20, 000.
Although some may view fraud as a ‘victimless crime', its effects are more serious and far-reaching than many people realize; it affects everyone, and it can be particularly detrimental to the local and global economies in a time of economic downturn.
The UAE Government recognizes the potential impact of commercial fraud in all its forms, and has ensured that all relevant departments and authorities in the country are working together to combat commercial fraud and protect the interests of manufacturers and traders, alike.
According to estimates the global economy is suffering from trade in counterfeit products to the tune of an estimated US$780 billion per year, around 10 percent of the total world trade exchange, and the problem is affecting nearly all product sectors.
In UAE any convicted case of fraud is punishable by a maximum sentence of up to three years' detention, or a fine of up to Dh20, 000.
Although some may view fraud as a ‘victimless crime', its effects are more serious and far-reaching than many people realize; it affects everyone, and it can be particularly detrimental to the local and global economies in a time of economic downturn.
The UAE Government recognizes the potential impact of commercial fraud in all its forms, and has ensured that all relevant departments and authorities in the country are working together to combat commercial fraud and protect the interests of manufacturers and traders, alike.
According to estimates the global economy is suffering from trade in counterfeit products to the tune of an estimated US$780 billion per year, around 10 percent of the total world trade exchange, and the problem is affecting nearly all product sectors.
