Open AccessUnmasking Medical Frauds
Author(s) -
Elements,
Nirayan
Publication year - 2022
Publication title -
elements
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.345
H-Index - 85
eISSN - 2380-6087
pISSN - 2378-0185
DOI - 10.6017/eurj.v17i2.14943
Subject(s) - liberian dollar , counterfeit , business , globalization , legislation , international trade , international action , action (physics) , consumption (sociology) , counterfeit drugs , politics , corporate governance , commerce , political science , law , finance , social science , physics , quantum mechanics , sociology
This paper investigates how the evolution of the e-commerce market in conjunction with the extensive reach of globalization has brought about new ways for illicit trade to circumvent regulation, especially in the multibillion dollar industry that is the international trade of counterfeit pharmaceutical products. Developing countries are often especially vulnerable to the increasingly sophisticated methods for circulating falsely advertised medicines, medical equipment, and healthcare accessories due to unstable political environments and local governance. The effects of the consumption of false medical products call for action in regard to regulation and prevention via legislation and technological advances. Economic implications as well as the numerous dangers posed to consumers worldwide make illicit trade in the medical sector a pressing concern, especially in the face of global health emergencies like the current pandemic.