So you think you know about black market trade? Here are some myths, debunked | Malay Mail

Tuesday, 14 Jul 2020 08:07 PM MYTKUALA LUMPUR, July 14 — The global trade in counterfeit and pirated goods is a thriving one, rising from US$461 billion in 2013 to US$509 billion in 2016 according to the Organisation for Economic Co-operation and Development and European Union Intellectual Property Office.

The Consumer Choice Center , a global consumer advocacy group, today urged Malaysian consumers to reject all black market goods. “The majority of online shoppers do not understand the levels of fraud on the internet, nor do they have the software to detect or avoid it. Most think they are just getting a good deal,” he said.

“Let’s take illegal cigarette trade as an example. The trade has mushroomed in Malaysia after a significant increase in excise duty in 2015. He added that convenience and easy access are also contributing factors. Malaysian law prohibits legitimate cigarettes from being sold online which helps to encourage consumers to turn to illegal cigarettes.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global markets rise before US earnings season | Malay MailLONDON, July 13 — World stock markets advanced today, spurred higher by investor hopes over upcoming US earnings and a coronavirus vaccine, dealers said. Asian and European equities bounded higher as investors followed a strong performance on Wall Street, though a spike in Covid-19 infections...
Source: malaymail - 🏆 1. / 86 Read more »

Asian markets rise on fresh vaccine hopes, eyes on earnings | Malay MailHONG KONG, July 13 — Asian markets rose today, recovering some of the losses at the end of last week, as investors followed a strong performance on Wall Street fuelled by hopes for a coronavirus vaccine, though a spike in infections around the world capped gains. Trillions of dollars in...
Source: malaymail - 🏆 1. / 86 Read more »

UK trade fair industry warns 30,000 jobs at risk as events yet to resume | Malay MailLONDON, July 13 — Around 30,000 jobs in Britain’s events industry are at risk due to increased uncertainty about when trade fairs and exhibitions could resume in the UK, an industry body representing event organisers, venues and suppliers warned today. The Events Industry Alliance (EIA) said...
Source: malaymail - 🏆 1. / 86 Read more »