Counterfeit products has been flooding the markets increasingly. It has become an organized trade in itself. It is one of the fastest growing financial crimes, threatening jobs and endangering public health and safety. According to the estimates of World Customs Organization the annual global trade in illegitimate goods is expected to go up to $1.2 trillion by 2014 which would represent 5 to 7% of the total world trade.
Applied DNA Sciences announced that under the terms of a five-year agreement with an exclusive European luxury brand, APDN would receive a minimum of $8.7 million for supplying the Company with proprietary botanical DNA Authentication codes custom-made for the brand-owner’s customers, in order to maintain exclusivity on the agreement in the specified field. DNA is a trusted form of forensic evidence widely accepted by courts around the world. Applied DNA provides unique solutions that will stand the test of time.
Botanically derived SigNature® DNA markers, authentication services and DNA-marked security inks such as cash degradation, intaglio, inkjet, thermal transfer, laser toner and a wide range of security varnishes, dyes and textiles treatments are now available. BioMaterial Genotyping™ can help determine the authenticity of natural materials used in finished products by detecting and identifying their genomic DNA.