Detonating the Ticking Time Bomb of Faulty Electrical Parts

Electronic components on a obsolete printed-circuit board

(DGIwire) — A corrosive influx of counterfeit electronic parts into America’s manufacturing supply chain is costing the U.S. government and its contractors untold billions each year. However, the problem is not just limited to those who supply government agencies. Recent reports show that consumer and industrial businesses are losing approximately $250 billion each year because of counterfeit parts. An article in the journal Industry Week noted the automotive industry lost $3 billion in sales last year alone, while the semiconductor industry took a $75 billion hit.

In addition, counterfeit parts frequently create the potential for product malfunction, leading to personal injury and even death—a situation that has created unnecessary danger for military and everyday consumers alike, plus immense new levels of liability and risk for manufacturers in a wide range of industries.

As a result, companies in practically any endeavor face potential liability from the life-threatening consequences of counterfeit parts. When a part is deemed the cause of severe property damage, personal injuries and financial liability, the suppliers of those products might also be held legally responsible.

Although preventing the distribution of counterfeit parts altogether might be impossible, it is crucial that companies constantly remain vigilant and proactive in order to protect themselves and their customers. Among others things, this includes ensuring that the companies they do business with are doing the same. Understanding and complying with federal regulations and internationally recognized standards not only contributes to reducing the availability of counterfeit parts; it also helps reduce the associated liability risks.

Unfortunately, such careful vigilance and planning might not always be enough—especially when it comes to sophisticated criminal minds who will stop at virtually nothing when it comes to causing damage to innocent bystanders in the name of profit. It also underscores the urgent need for the sophisticated  technologies deployed by Stony Brook, NY-based Applied DNA Sciences. This innovative company creates unique security solutions by using DNA as a forensic foundation. Their SigNature® DNA product tracks and helps convict criminals by embedding a marking into ink, varnish, fabric, laminates, metal coatings and more.

“According to the International Chamber of Commerce, 80 percent of consumers around the world regularly purchase counterfeit products,” says James A. Hayward, President and CEO of Applied DNA Sciences. “They are usually unaware of the dangers associated with using these products. We are proud to be able to offer technology designed to serve as a powerful and effective way to fight back against counterfeit goods and help protect consumers and legitimate merchants.”

Copyright-free content provided by DGIwire.