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The new estimate of the cost of fraud in the UK is more than double the previous national fraud estimate of £13 billion.

January 27th, 2010

Previously only referenced publicly available information had been used, but the NFA calculation also included previously unpublished fraud loss figures and produced its own fraud estimates in areas where fraud data was unavailable.

Commissioner Mike Bowron of the City of London Police welcoming the report, said “the true cost of fraud could be much higher than previous estimates.

“It is vital that we ensure that the methodology used to measure the cost of fraud on the UK economy is as up to date and as comprehensive as is possible.

“We can then have confidence when using this data to help support and inform government policy in this important area of policing.”

Based predominantly on 2008 data, the current fraud loss figures were collated by a specialist team at the NFA. Using information gathered from a cross-section of public and private sector agencies, the public sector accounts for 58 per cent of the total figure, the private sector 31 per cent and fraud against individuals 12 per cent (4).

The report and overall fraud loss estimate will enable the NFA and Government to develop clearer priorities to prevent, detect and deter fraudsters and identify those areas of fraud that cause the most harm to the UK economy, to tackle it more effectively.

CEO of the NFA Dr Bernard Herdan said “Reducing the cost of fraud is important but even more significantly I want to stop more people from becoming victims. I have seen firsthand the devastating effects fraud can have. It destroys lives and livelihoods.”

The NFA, the Government’s strategic lead agency on fraud, has also recently launched Action Fraud, the UK’s first national fraud reporting centre. The service is a single point of contact for fraud victims, where they can both report a fraud and seek guidance and advice.

For more information about Action Fraud and the NFA, please visit www.actionfraud.org.uk.


Applied DNA Markets Programs to Forensically Pinpoint Gray-Market Diversion Analytics Relevant to Supply Chains From Simple to Complex

September 22nd, 2009

STONY BROOK, NY–(Marketwire - September 21, 2009) - Applied DNA Sciences, Inc. (OTCBB: APDN), a provider of DNA-based security solutions, announced that its anti-counterfeit technologies can be deployed in covert programs that seek to identify “leaks” in supply chains. Leakage out of the legitimate supply chain, called “Diversion” creates the

“Gray-Market” that devalues any product caught in its grip.

Sometimes gray-market products are leaked back into legitimate supply chains, most often accompanied by counterfeits, out-dated products or products that have been remanufactured to superficial specifications but with limited capacity or shortened functional lifetimes.

“Botanical SigNature® DNA can track the path of supply chains in many industry verticals: governments and the military, electronics and semi-conductors, currency, collectibles, fine wines, luxury goods, personal care and other industries,” said Dr. James A. Hayward, CEO of APDN. “By layering SigNature DNA with other rapid screening security platforms, the combination enables in-field screening with in-lab forensics. Conventional tools such as barcodes, holograms and even RFIDs, have limited security, as counterfeiters have found ways to access this technology and quickly create and distribute fake products back into the supply chains of companies and governments. DNA elevates each of these and other platforms to a forensic level, that cannot be copied and that offer the near absence of false positives.”

SigNature DNA offers value over typical non-DNA taggants as described in the table below.

           Forensic     Size of
Platform   Quality      Marker    Scope    Security   Stability    Safety
--------   -------      ------    -----    --------   ---------    ------
 
SigNature   Highest   Large and  Extremely Cannot be    Stable      Safe,
DNA                    complex   flexible   copied      against    "Green"
                                                       physical   Botanical
                                                     and chemical
                                                       extremes
 
Non DNA     Low to      Varies   Limited   Most are      Can be    Varies
Taggants     None                          copied by    unstable
                                         counterfeiters

The forensic utility of DNA has survived scrutiny unparalleled for crime evidence. Its informational content is massive and it is one of the most sensitively detected molecules known to man. Applied DNA’s products may be deployed in extruded plastics, inks and metal surfaces, making this security applicable to microchips and printed circuits. The company has successfully incorporated DNA in a wide menu of commercial inks, adhesives, label and packaging materials and directly onto a variety of products such as fabrics, cosmetic products and drug prototypes.

Dr. Hayward continued: “Once a counterfeit product enters a supply chain, it becomes exceedingly difficult to differentiate a real product from the fake. We regard DNA as the “security of both first and last resort.”

APDN has been selected to present at the DMSMS and Standardization Conference in Orlando, FL on September 23rd. This will be APDN’s second governmental conference demonstrating the power of DNA to successfully address the challenges of counterfeiting and diversion.

About APDN

APDN sells patented DNA security solutions to protect products, brands and intellectual property from counterfeiting and diversion. SigNature DNA is a botanical mark used to authenticate products in a unique manner that essentially cannot be copied. APDN also provides BioMaterial GenoTyping™ by detecting genomic DNA in natural materials to authenticate finished products. Both technologies protect brands and products in a wide range of industries and provide a 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 and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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 16, 2008 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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