Until the 1980s, counterfeiting was thought of as a victimless crime, conjuring up images of knock-off brand-name watches and handbags. Today, however, counterfeiting is big business, accounting for 5-8% of all goods sold worldwide.

In terms of criminal activity, counterfeiting is among the most lucrative crimes today, its impact on the global economy estimated at $350 billion to $500 billion a year. (In comparison, bank robberies account for less than $100 million per year globally.) The Federal Bureau of Investigation has called counterfeiting "the crime of the 21st century."

The differences between real and fake products are getting harder to detect, causing serious financial and physical harm. Some of today's counterfeit products can easily escape detection by the naked eye with their look-a-like accuracy. Yet, while the appearance of counterfeit products has improved in some cases, they only approximate the original, with no regard for safety or quality standards.

Industry experts warn there is an increased possibility today that dangerous counterfeit products could appear unknowingly under the hood of the family car or on a fleet of trucks. According to CBS News, the auto industry has found enough different fake parts being sold in U.S. part stores to construct an entire car, with components such as brakes made of compressed grass and wood.

According to Anthony Lupo, an attorney at law firm Ar...