The economic impact of illicit trade is immense, with 3% of global GDP forecast to be lost to illicit activities such as counterfeiting, smuggling and tax leakage in 2020.
This white paper highlights the main drivers of illicit trade and how they are being boosted by the Coronavirus pandemic across many industries. Discover how the scarcity of goods, disruptions to the supply chain, restrictive measures like bans and decreased government enforcement are all driving illicit trade.
At the beginning of 2020, global trade was disrupted by the emergence of Coronavirus (COVID-19), a pandemic that devastated normal life in most parts of the world. Millions of people fell ill, hundreds of thousands died and the attempts to curb the spread of the disease had significant detrimental effects on the global economy. The pandemic affected all regions of the world and until a vaccine becomes available, cases are expected to continue growing.
Governments are responding to the pandemic......................................................................................................
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