Global illicit trade results in huge financial losses for both governments and companies, and it has serious implications for public health and crime.
The global illicit trade in pharmaceutical products is estimated at over $200 billion per year and, in the tobacco sector alone, it is estimated that nearly £25 billion in tax revenue is lost each year. In addition to the direct financial impacts, illicit trade damages brand equity and restricts government policy. More worryingly, it exposes consumers to non-regulated products, putting lives at risk.
Companies and legislators have recognised the scale of the problem and are taking action. However illicit trade cannot be effectively combated in isolation - it requires a strong private-public partnership and collective responses. This involves combined initiatives from policy makers, enforcement agencies, and companies to implement appropriate brand protection technologies.
PA Consulting Group has assisted businesses and legislators with defining, implementing, monitoring, and communicating effective anti-illicit trade strategies and technologies using our unique combination of insight and services.
To discuss how we can help you in addressing your specific issues on illicit trade, please contact us now.