Authenticate-360 has compiled just a small sampling of the terrifying statistics related to counterfeiting and fraud, much of which originates or is facilitated at the point of print.
- Costs of Fraud
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- $250 billion in counterfeit goods
- 750,000 American jobs lost
- $815 million in check fraud
- $96.2 billion in increased insurance premiums
- $5000/year increase in insurance premiums per household
- $27.6 billion in insurance fraud
- $12 billion lost by auto parts suppliers to counterfeiting
- $75 billion in counterfeit drugs
- 10,000-200,000 estimated deaths from counterfeit drugs
- $606.8 million lost to mortgage fraud
- $48 billion loss for Businesses due to mortgage fraud
- $5 billion loss for consumers due to mortgage fraud
- Prevalence of Fraud and Counterfeiting:
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- 35% of all installed software is counterfeit – a 67% increase from 2005-2006
- 5th most reported consumer fraud in the US is check fraud
- 6,422 different entities issue birth certificates
- 29% of student papers show significant plagiarism
- 52% of résumés claim partial degrees as full degrees
- 520,000 installed airplane parts are counterfeit
- 75% of clinical investigators witnessed clinical research fraud
- 50% of Internet pharmaceutical sales are counterfeit
- 156 mortgage frauds in 4 months
- 17,127 reports of mortgage fraud
- 22,000 reports of suspicious transaction
- 45% of transportation and logistics companies have reported fraud
- Major Areas of Counterfeiting and Fraud
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- Apparel and Footwear
- Software
- Intellectual Property
- Automobile Insurance
- Business and Commercial Insurance
- Homeowner Insurance
- Academic Research
- Employment Applications
- Aerospace Parts
- Automotive Parts
- Pharmaceutical Research
- Internet Pharmaceutical Sales
- Mortgage and Deed Fraud
- Transportation and Logistics Billing Forgery