Tuesday, 8 June 2021

EU Intellectual Property Office (EUIPO): 7% of Croatians Misled Into Buying Counterfeits

ZAGREB, 8 June, 2021 - Nine percent of Europeans and seven percent of Croatians have been misled into buying counterfeit products, according to a survey released by the EU Intellectual Property Office (EUIPO) on Tuesday.

The study, entitled "European Citizens and Intellectual Property", shows that consumers find it difficult to distinguish between genuine and fake products.

Nearly one in ten Europeans claimed that they were misled into buying counterfeits, but there were considerable differences between EU member states. 19% of Bulgarians, 16% of Romanians and 15% of Hungarians said they were deceived, compared to 2% of Swedes and 3% of Danes.

Croatia was below the EU average, with 7% of its citizens saying they were misled into buying counterfeit products.

According to Eurostat, over 70% of Europeans shopped online in 2020, and uncertainty regarding counterfeit products has become a growing concern for consumer protection, the study showed.

Counterfeit products represent 6.8 % of EU imports worth €121 billion and impact every sector, from cosmetics and toys, wine and beverages, electronics and clothing to pesticides and pharmaceutical products. They pose serious risks to the health and safety of citizens as they usually do not comply with quality and safety standards.

The study says that the worldwide trade in counterfeit pharmaceutical products has been estimated at €4 billion. Digital piracy also represents a highly lucrative market for infringers. Just in the area of internet protocol television (IPTV), €1 billion of unlawful revenue is generated every year by the
supply and consumption of copyright-infringing digital content in the EU, harming creators and
legitimate businesses.

Counterfeiting affects not only consumers, but it also causes considerable damage to the EU
economy, notably small and medium enterprises (SMEs). One in four SMEs and 21.7% of SMEs in Croatia said they suffered damage on account of intellectual property rights infringement, according to the study.

For more about business in Croatia, follow TCN's dedicated page.

Monday, 26 April 2021

Croatian Scam Detected as Fraudster Seeks Donations in Rimac's Name

April the 26th, 2021 - The latest Croatian scam has been detected as donations are sought and false financial advice about investments from Mate Rimac is given on fraudulent websites.

Few have become more famous (at least for positive reasons) in Croatia over the last few years as Livno-born entrepreneur Mate Rimac. Having attracted not only the attention of automotive giants including Porsche, but their money in the form of enormous investments too, all eyes have been on Rimac for some time now.

As the entrepreneur continues to make impressive business moves and dispell theories that succeeding in Croatia is impossible, such as with his latest Rimac Campus project, unfortunately some not so respectable eyes have been watching him and hoping to take advantage in some way or another.

Scams via apps or texts have become somewhat commonplace, and although a Nigerian prince wanting your bank details and informing you of the untimely death of your hitherto unknown relative are typically obvious lies, not all of them are so transparent.

As Poslovni Dnevnik writes, dangerous fake news in the current era of social media is unfortunately rife, and scams also are. Businessman Mate Rimac himself warned about this epidemic of sorts on his Facebook profile.

''We hereby appeal to everyone not to fall prey to fraud,'' N1 also reported when discussing the latest Croatian scam which is asking for donations in Mate Rimac's name.

To be more specific, someone has divised a Croatian scam to trick people into investing money in a start-up company, in the form of cryptocurrencies. Of course, the entire thing is completely and utterly fake, as is Mate Rimac's apparent ''advice'' on making such investments that this particular Croatian scam is using in its attempt to fool would-be investors or cryptocurrency fans.

“People, don’t fall prey to these stupid scams. They're constantly using the identities of public figures - unfortunately that includes me too,'' said Mate Rimac last year. These particular ads lead to seemingly trustworthy and normal-looking portals, however these are very much fraudulent sites regardless of their more professional appearance.

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