Advocacy News – July 1, 2022
Although often unseen, illicit trade is negatively impacting businesses of various industries across the world, with the World Economic Forum estimating that $2.2 trillion is lost annually from the global economy. Even more specific to the Great Lakes State, the U.S. loses an estimated $3 billion a year due to service part counterfeiters within the automotive field. Illegal trade does not discriminate based on sector and often poses grave dangers to our youngest Michiganders in terms of tobacco products and illicit substances. According to United to Safeguard American from Illegal Trade (USA-IT), 12 counties in Michigan are labeled as high intensity drug trafficking areas by the Office of National Drug Control Policy. The criminal networks that engage in illicit trade are oftentimes the same networks that conduct human trafficking, with Michigan ranked seventh in the U.S. in human trafficking cases.
Michigan and its businesses are in a vulnerable position and need to act swiftly to ensure we are safeguarding our state, people and that businesses can thrive, void of illegal trade.
Are you interested in learning how you can protect your business or products from the hands of criminal networks? Join USA-IT on Tuesday, July 19, 2022, from 10-11:30 a.m. to gain insight on tactics and strategies to detect and defend your business, products and people from illicit trade. If you or someone you know is interested, click here to register.
For questions or more information, please contact Leah Robinson at LRobinson@michamber.com.