Marketplace has revealed that fake diplomas are a billion-dollar industry, with more than 800 Canadians purchasing a fake degree through Pakistan-based IT firm Axact. Former FBI agent Allen Ezell investigated diploma mills for decades and estimates that half of new PhDs issued each year in the Unites States are fake. The effects are twofold: First, devaluing legitimate degrees and second, putting the public at risk when they are in the hands of professionals who lack the proper skills and expertise. An undercover operation revealed that the total cost to receive three PhDs, transcripts and a record of attendance papers is just $1,550. There are more than 100 fake online schools and accreditation bodies connected to Axact.

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