Abacus Wealth Management

The Counterfeit Menace

Manufacturers of Viceroy Brandy recently announced that a fake version of their product is circulating in the market. Nokia on the other hand has affirmed commitment in the fight against counterfeiting, .

Counterfeit commodities have continued to be a menace. The Kenya Anti-Counterfeit Authority has stated that Kenya loses around 3.2 billion Shillings annually through tax evasion on sale of fake handsets, commonly referred to as ‘China phones’. Counterfeit items are widespread and consumers are unable to tell the difference between fake and genuine commodities in the market.

Some of the products often counterfeited include:

Counterfeits have negatively impacted our society. They have encouraged unfair competition, loss of brand reputation, loss of jobs, insecurity due to fake locks and consumer health risks, just to mention but a few.

As the world commemorates the 14th World Anti-Counterfeiting Day (which was celebrated on 7th June 2012), we have compiled a couple of facts worth noting from Kenya’s Anti-Counterfeit Act.

Under the act, it is an offense, with respect to counterfeit goods, to take the following actions:

A person convicted of the above is liable:

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