Economic unit chief at the US Embassy Dhaka Joseph Giblin has shared three important reasons not to buy counterfeit or pirated products.

“They are personally dangerous to you; the profits go to international criminals and they harm you through your economy,” he said while making a presentation recently on “Intellectual Property.”

Explaining how counterfeit and pirated products are dangerous to someone personally, the diplomat said if it touches someone’s skin, or goes into a computer, it can hurt that individual.

“The main point of manufacturing counterfeits is to make money, not safety or quality. Even products like clothing, handbags and jewelry, can contain lead, carcinogens, or other toxins,” he said.

How profits go to international criminals? Giblin said profits from counterfeit goods go to transnational criminal organizations (TCOs).

Read: $1.08 billion could be added to Bangladesh’s dwindling forex reserves

“TOCs derive a high percentage of income from counterfeit goods. TOCs are involved in everything from Human Trafficking to murder for hire. Counterfeit/pirated product sales take advantage of the poor. Those who sell counterfeits may be trafficked themselves,” he said.

Explaining how counterfeits harm the economy, Giblin said, “For every counterfeit product purchased, there is one less honest product.”

He said money spent on counterfeits (mostly manufactured in China) is diverted from the legitimate business sector, including products made in Bangladesh, according to the presentation shared by the US Embassy on Tuesday.

Giblin said there are less jobs at legitimate companies, due to black market sales. “No taxes are paid on counterfeit products. That means less money for schools, roads, and law enforcement salaries to fight crime.”

Counterfeiting/piracy chases creative people away, he said, adding that many creative people like artists, singers, and programmers, go where their property is protected, and they can make a better living.

Giblin said this phenomenon benefits economies that protect intellectual property; and harms those that do not.

Read: New ADB initiative launched to strengthen women’s resilience to heat stress in Asia

“If there was a musician, actor, or programmer preparing to leave Bangladesh right now to go where they could make a better living, how would you convince that person to remain in Bangladesh?,” he said.

Giblin laid emphasis on spreading the word to friends and family; and telling them why it is dangerous to buy counterfeit/pirated products.

“Do what you can to keep them safe and ask them to pass along the message to others,” he said, thanking all for fighting against IP theft.

The American Chamber of Commerce in Bangladesh (AmCham) hosted the seminar on “IPR Protection & Practices: Driving Economic Growth in Bangladesh” in Dhaka recently.

Senior Secretary, Ministry of Industries Zakia Sultana spoke as the chief guest while AmCham President Syed Ershad Ahmed chaired the panel discussion.