Applied DNA Raises US Bank Security to New Heights With Gold Coast Bank
October 06 2011 - 8:30AM
Marketwired
Applied DNA Sciences, Inc. (OTCBB: APDN), a provider of DNA-based
anti-counterfeiting technology and product authentication
solutions, announces that Long Island, New York-based Gold Coast
Bank is deploying a new and formidable security program to protect
against bank robberies and malicious invasions of ATMs and their
enclosures.
Gold Coast will install SmartDNA™ Sentry
500 Intruder Spray Systems at each of its three branches at East
Setauket, Islandia, and Huntington, NY. In the event of a crime,
the SmartDNA System launches the DNA spray, covering criminals'
clothing and skin with a covert and unique botanical DNA marker,
linking criminals irrefutably and legally to the scene of their
crime. In a second part of the new program, APDN's DNANet™ product will be used to mark stolen cash. Integrated
with the bank's alarm and police communications systems, the upshot
is an unprecedented level of security in bank defense.
This system is already being used in Sweden with great success
(see below, as well as APDN Press Release May 5, 2011) and has
drawn interest from banks, insurance companies, cargo firms, and
other businesses with high value products.
Gold Coast President and CEO Joseph G. Perri stated, "As a
local, customer-friendly bank, we want our patrons and employees to
feel completely safe at our locations. We feel confident that the
SmartDNA system will be a formidable barrier to criminals and
places us at the cutting edge of bank security. We have not had a
crime problem and we want to keep it that way."
The SmartDNA 500 Intruder Spray System can be armed by a panic
button or incorporated into the bank's existing alarm system. The
system is being deployed in both covert and overt configurations
depending on the security situation. On activation, the units emit
a burst of DNA solution onto the offenders. The solution contains a
tracer ingredient which can be read on the spot, and a unique
plant-derived DNA code, linking the criminals irrefutably to the
crime scene. The code is submitted to an Applied DNA lab for
analysis, and can be used as forensic evidence in a court of
law.
APDN has disclosed that it intends to sell the SmartDNA system
to banks and other industries throughout the U.S. after widespread
success in protecting high-value product abroad.
The SmartDNA system is already in wide use in Europe, such as in
jewelry stores in Sweden, where its use is underwritten by
insurance discounts, and supported and promoted by police. A
similar DNA marking ingredient from APDN has been used for years
against cash-in-transit robbers in the United Kingdom. While not a
spray system, the cash-in-transit DNA marking and authentication
process, which is identical, has resulted in 33 convictions, and
has measurably helped reduce the number of cash in transit
robberies in the regions of the UK where it is used.
APDN also revealed that in the U.S. it has been working with
police agencies toward implementing a protection system for cargo,
logistics systems and other law enforcement work. The system is
also appropriate for the protection of pharmacies, where
narcotics-motivated robberies are notoriously rising.
James A. Hayward, President and CEO of Applied DNA Sciences,
commented: "We want the industry to know that this is the ultimate
in security for banks. Our DNA products and authentication services
are proven and unmatched. We are confident that banks will notice
its ease of installation, and overall readiness to deploy." Dr.
Hayward continued: "In law enforcement, police often suspect
strongly who the thieves are, but may not have definitive evidence
to convict them or link them to the crime. SmartDNA is becoming
that link."
About Gold Coast Bank
Headquartered in Islandia, NY with individual branches located
in Huntington and Setauket, Gold Coast Bank is a New York State
chartered bank whose popularity and sterling reputation stems from
the strong, long-term relationships it has cultivated among its
large and diverse customer base. A member of the Federal Deposit
Insurance Corporation (FDIC) and one of Long Island's financially
strongest denovo banks, Gold Coast Bank has more than $100 million
in assets and prides itself on providing businesses and individuals
with quality lending and banking services. Fulfilling a unique
niche within the Long Island commercial banking sector, Gold Coast
Bank delivers specialty lending capabilities in a variety of areas
that include real estate, equipment finance, and lines of credit
for privately owned businesses. For more information about Gold
Coast Bank, please visit www.gcbny.com.
About APDN
APDN sells patented DNA security solutions to protect products,
brands and intellectual property from counterfeiting and diversion.
SmartDNA is a tactical forensic system, providing unique DNA codes
in a series of product formats that empower law enforcement by
providing absolute evidence/crime/offender linkage. Our mark
provides a proven forensic chain of evidence that can be used to
prosecute perpetrators. To learn more, go to www.adnas.com where
APDN routinely posts all press releases.
The statements made by APDN may be forward-looking in nature.
Forward-looking statements describe APDN's future plans,
projections, strategies and expectations, and are based on
assumptions and involve a number of risks and uncertainties, many
of which are beyond the control of APDN. Actual results could
differ materially from those projected due to our short operating
history, limited financial resources, limited market acceptance,
market competition and various other factors detailed from time to
time in APDN's SEC reports and filings, including our Annual Report
on Form 10-K, filed on December 15, 2010 and our subsequent
quarterly reports on Form 10-Q. APDN undertakes no obligation to
update publicly any forward-looking statements to reflect new
information, events or circumstances after the date hereof to
reflect the occurrence of unanticipated events.
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Applied DNA Sciences contacts: INVESTOR CONTACT: Debbie
Bailey 631-444-8090 fax: 631-444-8848 MEDIA CONTACT: Mitchell
Miller 917-573-3373 fax: 631-444-8848 Email Contact FCMN Contact:
Email Contact Web site: http://www.adnas.com Twitter: @APDN,
@APDNInvestor Gold Coast Bank contacts: Todd Shapiro
Associates Tom Watkins 516-307-9295 Email Contact
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