SOURCE: Applied DNA Sciences

Applied DNA Sciences

October 06, 2011 08:30 ET

Applied DNA Raises US Bank Security to New Heights With Gold Coast Bank

Installations Protect Banks and ATMs Against Robbery -- SmartDNA Links the Criminal to the Crime

STONY BROOK, NY--(Marketwire - Oct 6, 2011) - 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.

Contact Information

  • 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