NYC Bill Would Target Buyers of Knockoff Handbags

Anyone caught knowingly attempting to buy a counterfeit designer bag could face jail time.
4:09 | 06/18/13

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Transcript for NYC Bill Would Target Buyers of Knockoff Handbags
"heat index" inside the handbags that are hot property. Ding. Counterfeit is a multibilliondollar business and linsey davis with why you may want to say no to the knockoffs. Plenty herhe desk. We're testing what is real and what is fake. A phony ferragamo may be considered contraband if this new york city law passes which may prove to be an expensive thing for people looking for a bargain. Women search high and low for their favorite designer handbags from outlet malls to online bargains even new york city's infamous canal street but in the future those who attempt to bag the cheapest purse on the road of counterfeit couture could be told to drop that bag and put their hands up. That's right. Shoppers looking to buy a pirated product da, counterfeit coach or a bogus burberry are now the target of a proposed new york city bill that would make it illegal to knowingly buy a counterfeit product. Those caught red handed could face up to a year in prison and as much as a thousand dollar fine. If I knew that was going to be a law then I wouldn't even consider doing it. The main thing is really set a deterrent. Hopefully when people know it's against the law to buy that they'll stop. Reporter: Counterfits currently cost the economy $250 billion a year and 750,000 jobs. If counterfeiting were a business, it would be the largest enterprise in the world. Twice the size of walmart. These are the real bags. These are the fake bags. How would I know? Dead giveaway. This is the louis vuitton speedy bag. The speedy bags, the authentic speedy bags are made with one piece of canvas. If it's one piece of leather this part would be right side up, but the back because it goes up should be upside down so that's the dead giveaway. How much is this? This today I do 32. Wow, that's a great price. Yeah. Reporter: I went down to canal street to see how easy it is to purchase one of these knockoffs. While this man was actually trying to sell us one of his illegal louis, even informed me of the new bill. They wanted to make a law that makes it illegal. So I would get it trouble. Not now. It's very hard because most people don't want it because you know they want to enjoy the option to get it on the black market. Reporter: The price point certainly isn't the only way to distinguish between the knockoff versus the real deal. There are several sometimes subtle differences but just based on a passing glance it be difficult to tell. Yo guys. You think you can tell between what's real and fake. Yes. After holding them and looking at them this one is the real and that one is the fake but if you were just walking by and carrying it I wouldn't have known. The real one looks more supple. This is the real one, you can tell a little bit more quality with the leather here. There are a lot of tips, louis vuitton does not give away their secrets. They would not confirm or deny whether these are their secret tips but valerie who we just spoke to in the piece said it should be be in the middle of the bag, lv, that's one tip and for the smaller bags they use just one swath of leather so on the other side it's upside down. That wouldn't be true on the larger bags because they're using more than one piece. This is real. I can tell -- in the center. This one is fake. She was also saying that the lv wouldn't be blocked. You see how the handle is cutting off the lv. That wouldn't be the case. Quick question. What do you put in that? I don't know but you look great carrying it. Metro card. I think it's a great accessory for you, josh. You can pull it off. The in et tree card won't even go in there. It will be all rolled up. Chewing gum and breath mints. If there's three people who want breath mints I've got them. Wow. Hey, linsey, thanks. Appreciate that.

This transcript has been automatically generated and may not be 100% accurate.

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