As part of its new strategic focus, ASX-listed tech company Dotz Limited (ASX:DTZ) will use its proprietary marking, tracing and verification technology to help companies tackle the US$2.2 trillion global black market.
Dotz CEO Uzi Breier said the company’s technology has already been successfully tested in China, where 70 percent of the world’s counterfeits originate, and would focus on anti-counterfeiting in packaging, polymers, lubricants and product liability areas.
“Declining trust is a major reputational issue of our time. Most companies that produce products with a premium brand value are under attack from counterfeiters. Dotz’s ‘ValiDotz’ markers utilise microscopic molecular, non-toxic, carbon-based security tagging materials to create unique biological signatures on printed surfaces, coatings, varnishes, bulk plastics or inserted into polymers, lubricants and other liquids.“
Visible only under UV light, the marker doesn’t affect the properties or appearance of a tagged product and has four layers of security, rather than the common three. These biological signatures are made up of colours, colour combinations, patterns and forensics while Dotz’s cloud-based image recognition and detecting readers enable on-site product authentication against the user’s unique data sets.
“Our anti-counterfeiting technology is effective because our unique markers are virtually impossible to reverse-engineer. During a recent industrial pilot, our markers provided brand protection for a company that produces about six billion boxes of cigarettes a year. It was an ideal test market, as counterfeiting is rife in this industry and the difference between the cheapest and most expensive brands is 100-fold.”
Lubricants are also being counterfeited in mass quantities, posing a serious threat to an otherwise rapidly growing market. This can result in costly machine failures and prolonged down times for critical equipment.
“Currently, there are no effective means of combatting these counterfeit products as perpetrators use empty containers of the original product and even high-quality printing to mislead consumers.”
“Our markers are incorporated and added into existing manufacturing processes, making it economical for brands to implement. They also have multiple applications and could be easily adopted by everything from high-value perfume and pharmaceutical industries to heavy manufacturing and mining.”
In the oil and gas services and upstream sectors, Dotz’s ‘Fluorensic’ product is used as a tracer. Using the same microscopic molecular, non-toxic, carbon-based security materials as Validtoz, it is the only non-toxic tracing fluid that is also water soluble and resistant to photo-bleaching. As such it is ideal for drilling applications, helping to prevent the risk of harmful chemicals in upstream oil and gas exploration and production. It also enables on-site tracing.
“The ability to trace our marking in real-time with the in-field Fluorimeter kit that can be used on site is a highly valued by the oil and gas industry, where they would typically have to wait three days to analyse the results and identify blockages.”
“We’re addressing an important market need and we see this sector as offering massive business and growth opportunities.”
Email fraud is nothing new, but online criminals have become ever more-effective at spoofing their identities to trick employees into sending them money. The Australian Centre for Cyber Security (ACSC) recorded losses of over $20M to business email compromise (BEC) attacks last year alone, up 230 percent over the previous year – and the full amount is certain to be much larger.
Cybersecurity Insights - Attack
No matter how robust your security, or how diligent your employees, network credentials are a free pass for cybercriminals. This is mostly because employees are relied upon for their own password management. And with more than 4.8 billion sets of stolen credentials said to be available online, odds are that at least a few of your employees’ user IDs and passwords are just waiting to be used by unscrupulous outsiders. Are you ready to stop them?
Cybersecurity Insights - People
Cyber resilience will be particularly important as Australian organisations face increased pressure to quickly detect, respond to, and manage the repercussions of breaches in the wake of 2018’s Notifiable Data Breaches (NDB) scheme.