Thursday, January 20, 2011

First Data to Release Fourth Quarter and Full Year 2010 Financial Results

ATLANTA-- (ePayment News Blog) On Wednesday, Feb. 2, 2011, First Data Corporation will release its fourth quarter and full year 2010 financial results. The release will be available at

The company will host a conference call and webcast on Wednesday, Feb. 2, 2011, at 10 a.m. ET to review fourth quarter and full year 2010 financial results. Ray Winborne, First Data chief financial officer, will lead the call.
To listen to the call via teleconference, dial 866-730-5765 (U.S.) or 857-350-1589 (outside the U.S.), pass code 67499535. The call will be webcast on the “Investor Relations” section of the First Data website at and a slide presentation to accompany the call will also be available on the investor website.
A replay of the call will be available through Feb. 16, 2011, at 888-286-8010 (U.S.) or 617-801-6888 (outside the U.S.), pass code 50059414, and via webcast at
Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive customer revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.


http://www.firstdata.comFirst Data Corporation
Chip Swearngan, 404-890-3000
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PandaLabs Uncovers Alarming Statistics on Cyber-Crime Black Market

Panda Security's anti-malware laboratory, has released an investigative report on the current cyber-crime black market. PandaLabs discovered a vast network selling stolen bank details along with other types of products in forums and more than 50 dedicated online stores. This is a rapidly growing industry and cyber-criminals are aiding and abetting each other's efforts to steal personal information for financial profit. After posing as a cyber-criminal to infiltrate the network, PandaLabs made some alarming discoveries which are available in the full report here:

The cyber-crime black market, which has traditionally centered on distributing bank and credit card details stolen from users around the world, diversified its business model in 2010, and now sells a much broader range of hacked confidential information including bank credentials, log-ins, passwords, fake credit cards and more. But as openly available as this information is, PandaLabs discovered that it can only be accessed by personally contacting the hackers who are promoting their information for sale on forums and in chat rooms.
Making the Sale
By having access to bank credentials, criminals can easily defraud any bank or credit card account long before the hack is discovered. Alarmingly, this data can be purchased for as little as $2 per card, but this level does not provide additional information or verification of the account balance available. If the buyer wants a guarantee for the available credit line or bank balance, the price increases to $80 for smaller bank balances and upwards of $700 to access accounts with a guaranteed balance of $82,000.
Prices are higher if the accounts have a history of online shopping or use payment platforms such as PayPal. For a simple account without a guaranteed balance, PandaLabs found prices starting at $10 and increasing to $1,500 depending on the platform and the guarantee of available funds. Similarly, these cyber-criminals also offer cloned credit/debit cards (from $180), card cloning machines ($200-1,000), and even fake ATM machines (from $3,500 depending on the model). Additional products such as money laundering services (bank transfers or cashing checks) are available for a commission ranging from 10 to 40 percent of the operation. If buyers want to use stolen bank details to buy products online, but are wary of being traced through the delivery address, the cyber-criminals will make the purchase and forward the goods for a fee of between $30 and $300 (depending on the chosen product).
For more sophisticated cyber-criminals who want to set up their own fake online stores and use rogueware techniques to obtain both user details and also reap the money these unsuspecting victims pay for fake antivirus products, there are also teams available to deliver turnkey projects, design, develop and publish the complete store, even positioning it in search engines. In this case, the price depends on the project.
Prices for botnet rental for sending spam (using bot-infected zombie computers, for example) vary depending on the number of computers used and the frequency of the spam, or the rental period. Prices start at $15 and rise to $20 for the rental of a SMTP server or VPN to guarantee anonymity.

Big Business
This cyber-criminal black market caters to buyers' needs just as any other business, and functions in similar ways. Since there is a great deal of competition in this industry, the rule of supply and demand ensures that prices are competitive, and operators even offer bulk discounts to higher-volume buyers. They will offer free 'trial' access to stolen bank or credit card details, as well as money back guarantees and free exchanges.  
However, since it is a black market, there are clearly many areas that differ from traditional business. Since anonymity is of the utmost importance, many sellers use underground forums to keep out of sight. Their offices are effectively the Internet, though they even go as far as advertising their 'office hours.' Some are more brazen about their activities, and have accounts on Facebook and Twitter which they use as shop windows. To ensure anonymity, contact is always made across instant messaging applications or free, generic email accounts.
Once contact is made, the transaction can be executed directly or through a website set up by the seller, using a username and password, which as with any online store, allows buyers to browse and fill their "shopping cart." Payment is always made up-front using services such as Western Union, Liberty Reserve and WebMoney.
More information is available in the PandaLabs Blog.
About PandaLabs
Since 1990, PandaLabs, the malware research division of Panda Security, has led the industry in detecting, classifying and protecting consumers and businesses against new cyber threats. At the core of the operation is Collective Intelligence, a proprietary system that provides real-time protection by harnessing Panda's community of users to automatically detect, analyze, classify and disinfect more than 63,000 new malware samples daily. The automated classification is complemented by a highly specialized global team of threat analysts, each focused on a specific type of malware, such as viruses, Trojans, worms, spyware and other exploits, to ensure around-the-clock protection. Learn more about PandaLabs and subscribe to the PandaLabs blog at Follow Panda on Twitter: and Facebook:
SOURCE Panda Security
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NACHA’s Board of Directors Elects New Officers


Colleen Morrison

HERNDON, Va., January 20, 2011 — NACHA —The Electronic Payments Association today announced the election of new officers to its Board of Directors, effective immediately. The Board consists of 19 voting members representing depository financial institutions of all sizes and types that utilize the ACH Network across the country.

The elected officers will serve a two-year term:
  • Pat Thelen, CTP, Executive Director, J.P. Morgan, Chairperson
  • Chrystina M. Giorgio, AAP, Senior Vice President, Operations, Sandy Spring Bank, Vice Chairperson
  • Russell K. Oatman, Senior Vice President, Corporate Treasury Services Group, First National Bank of Omaha, Secretary/Treasurer
The NACHA Board of Directors is a critical voice for the industry, and it is an honor to be elected to serve as chair of this important group,” said Pat Thelen, CTP, executive director, J.P. Morgan. “As the payments space continues to evolve and converge, the ACH Network will play a pivotal role in supporting the development of next-generation solutions. NACHA’s Board will provide leadership and direction around the emerging opportunities and critical developments in ACH payments, and I look forward to leading the strategic dialogue that will move our industry forward.”

Pat Thelen brings broad payments industry and financial management experience to his role as NACHA chairperson. Currently, he is product executive for J. P. Morgan’s ACH, Global Check Deposit and Coin and Currency products and is accountable for product planning, profitability, and execution. Mr. Thelen is involved in various industry organizations and has served on the WesPay Board of Directors, EPN Business Committee, FedACH Product Advisory Group, and the Federal Reserve’s Cash Advisory Council and Emerging Payments Subcommittee. He is passionate about leveraging product and operational design, technology, and regulatory change to drive innovation and enhance client experience. Mr. Thelen’s tenure on the NACHA Board began in January 2010.

NACHA vice chairperson Chrystina M. Giorgio serves as senior vice president of operations at Sandy Spring Bank, where she is responsible for daily processing as well as strategic direction for all deposit, payments, treasury services, and item processing and image initiatives. Ms. Giorgio currently chairs NACHA’s Risk Management Advisory Group. She is also a board member of MACHA – The Mid-Atlantic Payments Association, a member of the Federal Reserve 5th District Payments Advisory Council, the Federal Reserve Retail Payments Office Risk Forum Advisory Group, and recently was named co-chair of the FS-ISAC Payments Risk Council. Ms. Giorgio’s tenure on the NACHA Board began in January 2007.

Russell K. Oatman, NACHA secretary/treasurer, serves as senior vice president at First National Bank of Omaha where he leads the Corporate Treasury Services Group. Mr. Oatman oversees business and product development for domestic and international payments solutions, customer implementations, and customer care. He is the immediate past chairperson of the EPCOR board, serves on the Federal Reserve Payments Advisory Board for the tenth Federal Reserve District, and is active in other industry groups and committees. Mr. Oatman begins his tenure on the NACHA Board this year.

“NACHA is pleased to welcome the new officers and members of NACHA’s Board of Directors,” said Janet O. Estep, NACHA’s president and CEO. “The experience and expertise of the Board will be invaluable as the ACH Network continues to grow and enable innovation that strengthens the industry with creative payments solutions.”

In addition to the officers, NACHA’s 2011 Board includes the following individuals:
  • Elliot H. Berman, Senior Vice President, General Counsel & Secretary, Johnson Financial Group
  • Mary Burchette, Senior Vice President, Global Treasury Management, U.S. Bank
  • Robert D. Edwards, Executive Vice President, PNC Bank
  • Janet O. Estep, President & Chief Executive Officer, NACHA
  • Anthony A. Gautney, CCM, Executive Vice President & Head of Cash Management, First Southern Bank
  • Hubert J.P. Jolly, Managing Director, Citibank N.A.
  • Chet Kimmell, Chief Executive Officer, Neighborhood Credit Union
  • Fred Laing, II, AAP CCM, President, Upper Midwest ACH Association
  • Judy D. Long, Executive Vice President & Chief Operating Officer, First Citizens National Bank
  • John E. Lucas, CCM, Managing Director, BNY Mellon
  • William J. Schoch, President & Chief Executive Officer, Western Payments Alliance
  • T. Richard Shier, Executive Vice President, City National Bank
  • Robert A. Steen, Chief Executive Officer, Bridge Community Bank
  • Colleen J. Taylor, Executive Vice President, Treasury Management, Capital One
  • Keith K. Theisen, AAP, Executive Vice President & Director, TM Product Team, Wells Fargo
  • Jonathan Wilk, Senior Vice President & Product Management Executive, Bank of America
  • David Willis, Senior Vice President, Debit Cards & Funds Services, Navy Federal Credit Union

Alex C. Romeo, vice president and EPN product manager, The Clearing House, and James McKee, senior vice president, Federal Reserve System represent the ACH Operators to the NACHA Board in an advisory capacity.

The Board of Directors is the governing body of NACHA and provides guidance on the direction and management of NACHA’s strategic initiatives. Their responsibilities include ensuring efficient organizational planning, providing fiscal accountability, and acting in the best interests of NACHA and its members. Directors help identify and support the interests of NACHA and the ACH Network for the benefit of all its participants.
NACHA — The Electronic Payments Association
NACHA supports the growth of the ACH Network by managing its development, administration, and governance. The ACH Network facilitates global commerce by serving as a safe, efficient, ubiquitous, and high-quality electronic payment system. NACHA represents nearly 11,000 financial institutions through 17 regional payments associations and direct membership. Through its industry councils and forums, NACHA brings together payments system stakeholder organizations to encourage the efficient utilization of the ACH Network and develop new ways to use the Network to benefit its diverse set of participants. To learn more, visit, and

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