Regulatory News

A report released at the World Economic Forum in Davos, Switzerland last month concludes that the illegal market consisting of product counterfeiting, smuggling and piracy is a major risk factor for the economy in this and in coming years. The study, called 'The Global Risk Landscape 2018,’ was based on information obtained in all countries and also on data from international organizations such as the UN and its various agencies, the World Bank, the Inter-American Development Bank and the IMF.

According to the report, 'global risks' are uncertain events or conditions that, if they do occur, can have significant negative impacts on a number of countries or industries over the next ten years. The objective of the Forum's study is to assess the likelihood of occurrence and how this can affect local societies, countries, regions and continents; and then develop strategies to address these challenges.

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