Counterfeit drink costs Cyprus €8M annually – Famagusta Gazette

Counterfeit drink costs Cyprus €8M annually – Famagusta Gazette

Illicit trade in food and beverages robs Cyprus of €8 million and over 16 jobs each year, part of a broader EU-wide issue. The European Union Intellectual Property Office (EUIPO) reports that fake wines and spirits alone wipe out €2.29 billion in sales and nearly 5,700 jobs across the EU annually. The warning highlights the economic and public health risks of counterfeit products.