00:01Elicitrade fuels crime, elicitrade significantly deteriorates governmental revenues,
00:08elicitrade undermines legitimate businesses and weakens political institutions.
00:13If you take governmental revenue, every additional dollar earned can be reinvested in healthcare,
00:19in education, in infrastructure, etc.
00:22Consumers are using elicitrade products and those products, they don't have quality standards,
00:29they don't follow safety protocols, they don't follow product standards,
00:32so they impose a risk on consumers using these products.
00:37That elicitrade is purely an issue in the Western world is often a misconception.
00:42Emerging markets are facing the exact same, if not worse, and they need the funding.
00:48That's why it's so important they make their voices heard on international fora around combating elicitrade.
00:55Criminal networks, their operations, their money, their products, they go cross-border.
01:00That's why it's so important to work together as countries, to share information, to share intel,
01:06to share ways of enforcing this, to make policies together.
01:11Good regulation without enforcement only impacts the legitimate businesses,
01:15because they follow the regulation and elicitrade, and they don't follow the regulation.
01:20That's why it's important to have sensible regulation, taking into account consumer protection,
01:27taking into account the enforceability of it, and the practicality of it.
01:31If that's not met, it cannot be addressed properly.
01:35Combating elicitrade should be an integral part of policy making.
01:39If done successfully, it will reduce the crime rates and will significantly increase governmental revenues.
01:45Though it's important to mention that it should be addressed cross-country,
01:49and with sensible regulation that takes into account consumer protection, enforceability and product standards,
01:55and only then it will work.
02:00conventional programme of policy methods
02:00you can access more accounts of fraud.
02:02Record engagement
