Counterfeits are a problem even in ‘normal’ times of short supply and high demand. Add to this a global pandemic, with misinformation, restrictions on movements and a higher dependency on online markets, and you have all the ingredients to ignite a surge in counterfeit supply.
A recent article in the maker title, All About Circuits, suggests that “although it is difficult to put an exact figure on just how many counterfeit products are in circulation, estimates suggest that consumer and industrial businesses lose approximately $250 billion each year”.
In addition, the associated costs of using fake components may be immeasurable, as it may pose more than a financial risk.
“When a counterfeit component was installed in a larger system such a production line, a malfunction or breakdown could lead to significant financial harm through several hours’ or days’ worth of unplanned downtime. The cost is not just financial, though. It is often the case that counterfeit breakdowns are hazardous in nature, and these can lead to extensive damage to peripheral equipment and present a risk of injury to staff members.”
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