Press release:

ACI Worldwide Issues Call for Entries for 4th Annual ACI Excellence Awards

Monday, September 17, 2012

NAPLES, FLA—September 17, 2012— ACI Worldwide (NASDAQ: ACIW), a leading international provider of payment systems has issued a call for entries for the company’s 4th annual excellence awards. The ACI Excellence Awards™, which recognize ACI customers for new, innovative, or transformative implementations of ACI products, are open to all current ACI customers, regardless of size, location, business type or product deployed. There is no entry fee.

An ACI customer will be recognized for showing innovation in the use of ACI solutions to fill a need specific to a particular market or market segment.  The categories are:
• Meeting market needs
• Operational Excellence: Global Bank
• Operational Excellence: Regional Bank
• Mobile Banking and Payments
• Community Banking
• Customer Experience
• Payments Transformation
• Fraud
• Other
Interested parties can find more information, including submission guidelines, at www.aciworldwide.com/awards.  Submissions can be completed online and are due by October 26, 2012.  Winners will be announced in December 2012.

RSA Helps Customers Simplify PCI Compliance in Virtualized Environments

EMC Press Release

RSA Helps Customers Simplify PCI Compliance in Virtualized Environments

Successful Collaboration of the RSA Archer® eGRC Suite, RSA® Data Loss Prevention Suite, the RSA enVision® system and RSA NetWitness® technology Help Customers Face PCI Requirements in Virtualized Environments

VMworld – San Francisco, CA - August 28, 2012

News Summary:

• RSA’s PCI Solution Guide is QSA-reviewed guide that is designed to provide formal guidance for enterprises deploying virtual infrastructure in Payment Card Industry(PCI) regulated data centers.
• The RSA PCI Solution Guide is an addendum to the VMware Solution Guide for the Payment Card Industry

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Full Story:

RSA, The Security Division of EMC((NYSE:EMC), today announced the publication of the RSA PCI Solution Guide, a QSA-reviewed guide that is designed to provide formal guidance for enterprises deploying virtual infrastructure in Payment Card Industry (PCI)-regulated data centers. The RSA PCI Solution Guide is an addendum to the VMware Solution Guide for the Payment Card Industry. The RSA PCI Solution Guide augments the native security offerings in the VMware vCloud® Suite to cover additional control areas required for PCI compliance, helping to enable retailers to accelerate and simplify the transition of mission critical operations to virtualized data centers.

“Customers are eager to virtualize even their most sensitive systems, including PCI payment processing, and by integrating with RSA’s core set of security management and compliance tools customers can supplement our native security offerings to accelerate deployments and reduce the complexity of meeting audit requirements,” said Parag Patel, vice president, Global Strategic Alliances of VMware. “VMware and RSA are committed to helping regulated organizations move along in their journey to the cloud by providing in-depth and validated guidance to the compliance community and customers who are subject to PCI compliance.”

“RSA has a comprehensive security management and compliance suite, including RSA Archer, RSA Data Loss Prevention, RSA enVision and RSA NetWitness technology, which can all be leveraged to help better protect credit card data in virtual environments and address PCI compliance requirements,” said Carol Clark, RSA Senior Director of Security Management and Compliance product marketing.  “RSA is an integral part of VMware’s security and compliance strategy that helps enables customers to migrate to virtual and private cloud environments securely.”

The RSA Archer eGRC platform is engineered to provide a GRC framework that is part of the reference guide to PCI compliance, enabling RSA to address the PCI controls that need to be monitored and reported on in a VMware environment. The integration between RSA Archer eGRC and VMware vCenter™ Operations™ demonstrates the capability of end-to-end visibility, automated compliance and effective remediation.

About RSA

RSA, The Security Division of EMC, is the premier provider of security, risk and compliance management solutions for business acceleration. RSA helps the world´s leading organizations succeed by solving their most complex and sensitive security challenges. These challenges include managing organizational risk, safeguarding mobile access and collaboration, proving compliance, and securing virtual and cloud environments.

Combining business-critical controls in identity assurance, encryption & key management, SIEM, Data Loss Prevention and Fraud Protection with industry leading eGRC capabilities and robust consulting services, RSA brings visibility and trust to millions of user identities, the transactions that they perform and the data that is generated. For more information, please visit www.EMC.com/RSA.

Press release:

ACI Worldwide Delivers Advanced Retailer Payment Solution Allowing Retailers to Integrate Mobile Wallets into Existing Payments Infrastructure

Wednesday, August 15, 2012

NAPLES, FLA. – August 15, 2012 – ACI Worldwide (NASDAQ: ACIW), a leading international provider of payments systems, announced today the availability of Retail Commerce Server™ 5.0, the newest version of the company’s integrated payment solution for acquiring, authenticating, switching and authorizing retailers' financial transactions across multiple channels. Targeted for the U.S. and Mexican markets, the Retail Commerce Server framework quickly and easily integrates with current and emerging mobile wallet provider applications.

“Our retail customers face a rapidly evolving payments environment and ACI is ready to assist them to seamlessly integrate these changes into their current systems,” said Jeffrey Hale, Senior Vice President, Retail Payments, ACI Worldwide.  “The latest version of Retail Commerce Server empowers retailers to meet the growing demand for mobile wallet services with near seamless integration into their existing systems.  It will result in a stronger relationship with the consumer since they will be able to use the payment means of their choice without having to endure service disruptions.”

The updated mobile commerce framework supports the ability to process payments initiated on mobile devices through the retailer’s existing payments infrastructure. Most mobile wallets currently operating are designed to bypass the retailer’s existing payments infrastructure. As a result both internal and external costs are increased and the retailer’s ability to manage the customer relationship is negatively impacted.

By having the transaction flow through the existing infrastructure, retailers will be able to meet consumer needs without introducing any significant changes to their store or headquarter operations. The framework architecture has been designed to quickly and easily integrate with current and emerging mobile wallet provider applications. Retail Commerce Server 5.0 offers a number of other benefits to the customer including:

• Segmented payment data and configuration rules set for retailers with multiple brands - This new multi-tenant feature allows for a single instance of the Retail Commerce Server payment switch while providing the retailer the ability to uniquely customize each banner or franchise’s payment experience as needed. 

• Enhanced interoperability with other transaction types - The integration toolkit (ITK) allows the merchant to integrate their POS application to the Retail Commerce Server payment flow.  The ITK handles the message processing from the point of sale (POS) to the payment switch.   Retail Commerce Server 5.0 extends in-store support for key transaction types such as a credit application, fleet cards, phone card (PH), and Canadian debit transactions

“In this fast changing payment environment, large retailers require both reliability and flexibility,” said George Peabody, Director, Emerging Technologies Advisory Service, Mercator Advisory Group. “They need systems that perform traditional payments functions flawlessly and offer the flexibility to accommodate new payment methods, including mobile wallets, as well as couponing and other incentives approaches. A platform that provides both positions the retailer to deploy new customer-facing services while keeping integration issues to a minimum.”

Press release:

ACI Worldwide Strengthens Product Leadership with Executive Appointment

Daniel Frate to join as Executive Vice President, Global Markets and Product Management

Tuesday, August 07, 2012

NAPLES, FL.—August 7, 2012— ACI Worldwide, Inc. (NASDAQ:ACIW), a leading international provider of payment systems, announced today the appointment of Daniel Frate as EVP, Global Markets and Product Management.

Mr. Frate brings more than twenty five years of payments experience to this new role, having most recently served as Executive Vice President and Head of Products and Pricing at PNC Bank. Building on ACI’s product leadership position, Mr. Frate will be charged with delivering customer satisfaction through tight alignment of product roadmaps with market needs.  Mr. Frate will be based out of the company’s Naples, Florida headquarters.

“Dan has a keen appreciation of the customer’s perspective and is an excellent addition to the executive team,” said Philip Heasley, President and CEO, ACI Worldwide.  “With oversight of the sales and services functions as well as product management, Dan will ensure that we continue to meet our customers’ needs by delivering market-leading solutions.” 

David Morem, currently EVP, Global Products and a senior ACI executive since 2006, will transition to the role of EVP, Global Maintenance. He will lead the product maintenance and customer support operations for the company, and will be responsible for delivering world class support for all ACI products, a key aspect of the company’s priority on customer satisfaction. 

“Dave’s team of payments experts are dedicated to ensuring the long-term success of customer deployments,” said Mr. Heasley. “Unique in the payments marketplace, ACI supports customers for the lifetime of their applications, which includes investments in ongoing maintenance and mandates updates for all ACI products.”

The company also announced today that Ralph Dangelmaier, Executive Vice President, Global Markets, will be leaving ACI to head a privately-held company.  Mr. Dangelmaier joined ACI through its 2006 acquisition of P&H Solutions.
 
“I would like to thank Ralph for his dedication and tireless commitment to ACI,” said Mr. Heasley. “He has built a robust team that will continue to lead the payments marketplace.”

Final Baltimore Police Officer Pleads Guilty in Towing Extortion Scheme

Final Baltimore Police Officer Pleads Guilty in Towing Extortion Scheme 
Fifteen Police Officers Have Pleaded Guilty in the Extortion Scheme in Federal Court and Another Officer Pleaded Guilty in State Court

U.S. Attorney’s OfficeMarch 22, 2012

District of Maryland(410) 209-4800

BALTIMORE—Baltimore Police officer Jaime Luis Lugo, age 36, of Aberdeen, Maryland, pleaded guilty today to conspiring to commit and committing extortion under color of official right in connection with a scheme in which brothers Hernan Alexis Moreno and Edwin Javier Mejia paid Lugo and over 50 other officers to arrange for their car repair company, Majestic, rather than a city-authorized company, to tow vehicles from accident scenes and make repairs.

The guilty plea was announced by United States Attorney for the District of Maryland Rod J. Rosenstein, Special Agent in Charge Richard A. McFeely of the Federal Bureau of Investigation; and Baltimore Police Commissioner Frederick H. Bealefeld, III.

According to his guilty plea, beginning in 2010, Moreno and Mejia agreed with Lugo that while acting in his capacity as Baltimore Police Department (BPD) officer at accident scenes, Lugo would contact Moreno and Mejia for towing and repair services for vehicles even though Majestic was not an authorized tow company for the city of Baltimore. In exchange, Mejia or Moreno would pay Lugo $300 for each vehicle that arrived at Majestic. Lugo then began to refer vehicles on a regular basis to Moreno in exchange for payment, usually by contacting Moreno by cell phone.

Specifically, while on the scene of an accident, Lugo would contact Moreno and provide him with the details of the accident, including the type and extent of damage to the car or cars, insurance information, and contact information for the car’s owner. It was agreed that Lugo, while performing his official duties as a police officer, would persuade accident victims to allow their cars to be towed or otherwise delivered to Majestic by telling the victims that Majestic could tow the car, provide repair services, help with the insurance claim, assist in getting a rental car, and waive the owner’s deductible. Lugo advised accident victims that they should not call their insurance company until after they spoke to Moreno or Mejia.

Lugo also understood and agreed that Moreno and Mejia would create additional damage to certain vehicles in order to increase the vehicle insurance claims, thereby increasing the net profit for Majestic as well as covering both the cash bribe payment to Lugo and the payment of the vehicle owner’s deductible. When referring vehicles from accident scenes, Lugo often discussed with Moreno whether a particular vehicle needed more damage. Lugo also falsified his police reports on several occasions in order to make it appear that the damage added to a vehicle by Majestic had been caused by an accident so that the insurance company would not question the repairs. Moreno paid Lugo $200 in cash in exchange for falsifying a police report.

From at least October 2010 to February 2011, Moreno and Mejia paid Lugo $6,000 in cash for vehicles that he had referred to Majestic. Those payments, plus the cost of the additional damages that Moreno and others inflicted upon various accident vehicles in the form of insurance claims paid by the various insurance companies, caused a total loss of between $120,000 to $200,000.

Lugo faces a maximum sentence of five years in prison for the conspiracy, and a maximum of 20 years in prison and a fine of $250,0000 or twice the amount of the gross gain or loss for extortion. U.S. District Judge Catherine C. Blake has scheduled sentencing for July 10, 2012 at 9:00 a.m.

Hernan Alexis Moreno, age 30, of Rosedale; and Edwin Javier Mejia, age 27, of Middle River, pleaded guilty to the extortion conspiracy and face a maximum sentence of 20 years in prison. Their sentencing has not yet been scheduled.

Fifteen Baltimore Police officers have pleaded guilty to their participation in the extortion scheme in federal court and one officer pleaded guilty in state court.

United States Attorney Rod J. Rosenstein praised the FBI and the Baltimore Police Department for their work in the investigation. Mr. Rosenstein thanked Assistant United States Attorneys Tonya N. Kelly and Kathleen O. Gavin, who are prosecuting the case.

ACI Worldwide Delivers Industry’s Most Powerful Retail Payments Solution with Newest Release of BASE24-eps

Latest Version Expands Offering and Enhances Market-leading, Multi-channel Payment Processing Platform

Tuesday, March 20, 2012

(New York, N.Y. – March 20, 2012) – ACI Worldwide (Nasdaq: ACIW), a leading international provider of payments systems, today announced the availability of the latest version of BASE24-eps®, its integrated payment solution for acquiring, authenticating, switching, and authorizing financial transactions across multiple channels. Drawing on more than 35 years of experience in payments software, BASE24-eps 11.1 demonstrates ACI’s continued commitment to its flagship solution for retail banks, ATM and POS transaction processors and merchant acquirers worldwide.

BASE24-eps 11.1 extends ACI’s market leadership in supporting the global payments market with new connections to support local payment schemes and device types.  Among other benefits, the new version is designed to lower customers’ total cost of ownership while expanding choice, through its enhanced multi-platform architecture that supports various deployment options.  

David Morem, Executive Vice President, Global Products and Maintenance , ACI Worldwide said, “We’re extremely proud of the progress and latest improvements we’ve made with BASE24-eps. The product is now proven in some of the largest environments across a wide range of payment applications, delivering business flexibility without compromising the reliability, scalability and performance our customers expect.”

“In this age of rapid competitive, regulatory and technological changes, the payments business demands increasing flexibility,” notes Rick Oglesby, Senior Analyst, Aite Group.  “With BASE24-eps, ACI has made a significant investment in their payments platform in order to enable users to adapt rapidly to changing conditions domestically and across the global marketplace.”

Customers rely on BASE24-eps for performance and platform flexibility
“BASE24-eps is a proven, scalable solution enabling us to provide our customers with continuous product compliance with regulatory mandates, and adaptability for new market trends. BASE24-eps is recognised for its combination of reliability and flexibility and we are confident this will help us grow our business,” said Yves Perrachon, Head of Operations at Cedicam, the Crédit Agricole Group’s payments platform. “We look forward to the increased support for various platforms and interfaces in this latest release.”

“We are happy to see ACI continue to advance BASE24-eps in support of our payment needs,” said Ray Zapata, Senior Vice President, Frost Bank, one of the largest banks headquartered in Texas.  “BASE24-eps has set a high standard for performance, and we are pleased to take advantage of its platform flexibility.  We look forward to taking advantage of the new capabilities in this latest release.”

Key new features of BASE24-eps 11.1 include:

Flexibility with new platform and technology options – BASE24-eps 11.1 includes new support for DB2® on IBM System p®, which gives customers greater flexibility in their choice of platform and infrastructure, and enables them to leverage existing investments in technology and support resources.

Expanded global capabilities for ATM and POS acquiring – BASE24-eps 11.1 includes new support for NCR’s newest NDC standard message interface, extends EMV and key management support, and adds a new POS ISO acquiring interface. These capabilities enable customers to offer new features and services that increase revenues, through added transaction acquiring and processing flexibility. 

Regional enablement and new endpoints  – BASE24-eps 11.1 now supports 40 global and regional networks and provides enhanced EMV acquiring and key management support. 

BASE24 ® to BASE24-eps migration tools – BASE24-eps 11.1 offers enhanced data conversion support and enhanced ISO Host (1987) Interface features to further enable phased migrations from BASE24 to BASE24-eps.

BASE24-eps 11.1 is available immediately.  BASE24-eps continues to serve as ACI’s flagship solution for serving the most complex global payments needs.  BASE24-eps was named the “Most Innovative Financial Services Solution” at the 2011 Financial World Innovation Awards in December 2011.  

For more information visit: www.aciworldwide.com

About ACI Worldwide
ACI Worldwide powers electronic payments and banking for nearly 1700 financial institutions, retailers and processors around the world. Through our integrated suite of software products and hosted services, we deliver a broad range of solutions for electronic payments, transaction banking, mobile, branch, and voice banking, fraud detection and trade finance. To learn more about ACI and understand why we are trusted globally, please visitwww.aciworldwide.com. You can also find us onwww.paymentsinsights.com or on Twitter  @ACI_Worldwide.

Pressure on Apple Builds Over App Store Fraud

Excerpt from an article in

The New York Times

Friday, March 16, 2012

Pressure on Apple Builds Over App Store Fraud

By EVELYN M. RUSLI and BRIAN X. CHEN

In a little over an hour, Ryan Matthew Pierson racked up $437.71 in iTunes charges for virtual currency that he could use to buy guns, nightclubs and cars in iMobster, a popular iPhone game. One problem: Mr. Pierson, a technology writer in Texas, has never played iMobster.

“This was fraud,” said Mr. Pierson, recalling the November incident. “I woke up, checked my e-mail, and I could see these purchases happening in real time.”

Mr. Pierson raised the issue with Apple and his bank, and the problem was eventually resolved. But his experience is hardly unique, as reflected by hundreds of online complaints saying that Apple’s iTunes Store, and in particular its App Store, which the company portrays as the safest of shopping environments, is not so secure.

The complaints come from consumers like Mr. Pierson, who say that their accounts have been hijacked or that some apps are falsely advertised. And they come from creators of apps, who say they are having to deal with fraudulent purchases that drain their time and resources. Software makers also complain that competition in the App Store has become so brutal that many companies resort to artificially inflating their popularity rankings to grab attention.

It’s a change for Apple, which was once criticized for its micromanaging of the App Store. Now the problem is not too much control, but too little.

“This kind of thing just happens any time a platform is successful,” said David Edery, chief executive of Spry Fox, a small software company that sells games in the App Store. “People start flooding into it and it starts to get crazy.”

The App Store offers more than 600,000 applications for iPhones, iPads and iPod Touches, and has already generated billions in revenue for Apple and its developers. That makes it both the best deal going for software makers and consumers, and also a hulking target for those looking to manipulate the system and cheat people.

Apple declined a request for an interview, but said in a statement that it was working to enhance security. It advised customers whose payment information had been stolen to change their iTunes passwords and to contact their financial institutions.

News Release from JPMorgan - Strategic Partnership

March 8, 2012

JPMorgan Chase and AirPlus International Form Strategic Partnership
New Partnership Will Provide Corporations and Their Employees With Integrated Expense Management Solutions That Deliver Local Expertise With Worldwide Reach

NEW YORK - March 8, 2012 - JPMorgan Chase & Co. Global Commercial Card business (NYSE: JPM) and AirPlus International, a leading provider of corporate travel & entertainment expense solutions, today announced the formation of a strategic partnership to help multinational organizations optimize processes and strengthen control of their corporate card and travel expense management programs. The comprehensive offering will provide leading solutions to both business travellers on the road and their travel managers at home.

By integrating AirPlus' innovative approach and expertise in corporate travel payment with J.P. Morgan's strength in global corporate banking services, the partnership will bring powerful benefits to organizations around the world.  This arrangement will generate new and innovative solutions in the corporate travel payments industry.

"AirPlus has developed a leading edge solution in helping corporations better manage their global travel spend," said Andrew Pilkington, President, Global Commercial Card, J.P. Morgan. "Together, we are delivering a compelling alternative to traditional corporate card programs. We will offer clients a complete suite of travel & entertainment payment solutions that provide world-class technology, travel expense management expertise and local service and knowledge. This partnership fully supports our strategy of delivering innovative yet practical solutions to drive a first-class client experience on a global scale."

"J.P. Morgan's strength and depth of experience in the cards business is an excellent fit with our know-how in international corporate payment solutions, and we are delighted to form this strategic partnership," said Patrick Diemer, Chairman of the Executive Board, AirPlus. "The partnership will form the basis for continued and sustainable growth of our global market share and bring us ever closer to our goals of becoming the preferred global provider of business travel payment solutions."

The features and benefits that the new J.P. Morgan and AirPlus partnership will bring to market will be announced in the coming months.

News Release from Bank of America

BofA Merrill Commercial Card Conference Promotes Innovation in Payments; New Products and Global Footprint Highlighted

NEW YORK--(BUSINESS WIRE)--Mar. 7, 2012-- Last week in San Francisco, Bank of America Merrill Lynch gathered together more than 180 client company representatives from around the world to discuss the evolving trends, innovations and developments in commercial payment solutions for Cards. Under the theme of “Plastics and Beyond: Exploring New Ways to Pay,” the conference drove a debate on the technology-driven change in global payments. Speakers included payments industry specialists, company leaders who have successfully transformed their payments processes, and BofA Merrill’s own experts. The three-day program offered attendees information on crucial topics, including how a company’s shift toward a fully automated electronic environment translates in the real world, and what companies could expect in terms of internal and external obstacles and benefits when moving payments toward an enterprise wide electronic culture. Speakers also addressed the impacts of the economic and business environment on the payments industry across the globe, and how emerging technologies are changing the payments landscape. Some of the industry experts who presented at the conference included Wayne Best, chief economist, Visa, Inc., and Ian Bremmer, president, Eurasia Group. During the conference, BofA Merrill announced enhancements to its card platform, and discussed how its innovative programs can help companies achieve electronic payment migration on a global scale. Among the products and capabilities discussed were: Chip and PIN – the new, more secure card technology offered to companies with employees travelling outside the U.S. Works® – BofA Merrill’s proprietary card management software that has been enhanced with new functionality that aids reconciliation and improves the user experience. Global Footprint – BofA Merrill’s global card offering will be available in more than 70 countries by the end of 2012. The company recently announced plans to offer card solutions in new geographies in Asia, Europe and Latin America, including, Japan, Austria, Denmark, Norway, Portugal, Sweden and Colombia. “BofA Merrill’s conference provides an excellent venue for clients to meet with their peers and discuss the latest trends, challenges and breakthroughs in the card and Payables industry,” said Kevin Phalen, head of Global Card and Comprehensive Payables. “We are very proud to be moderating this important dialogue, which will ultimately benefit companies everywhere as they increasingly migrate to a global electronic payments environment.” About Bank of America Merrill Lynch Commercial Card Bank of America Merrill Lynch is a leading provider of card solutions to large and middle market companies, globally, and to federal, state and local government entities in the United States. BofA Merrill’s Commercial Card group works with these organizations to design integrated ePayments solutions that help unlock working capital while increasing efficiency, visibility and control. As part of the Global Treasury Solutions business, BofA Merrill’s Commercial Card and Comprehensive Payables group develops strategies and solutions that are closely aligned to the treasury goals of corporate, commercial and government entities. BofA Merrill cardholders can be served in numerous languages and have access to a worldwide network of more than 32 million credit card merchants and ATMs. In 2011, the bank added new card solutions in 18 countries, and by the end of 2012, it plans to offer card solutions in more than 70 countries and 29 currencies. For more information regarding BofA Merrill’s card solutions, please visit http://corp.bankofamerica.com/business/ci/card-solutions. Bank of America Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with approximately 5,700 retail banking offices and approximately 17,750 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange. Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated, which is a registered broker-dealer and a member of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.

Money App for Facebook

Serve from American Express Unveils Send, Receive and Request Money App for FacebookApp Allows Friends to Send, Receive and Request Money from Directly within Facebook

NEW YORK, NY,  February 29, 2012 -- 

Serve from American Express today announced an application that allows friends to send, receive and request money from directly within Facebook. The Serve app is currently the only application available on Facebook that allows friends to send, request and receive payments in just a few clicks.

"The way people exchange money is evolving, and so is Serve," said Dan Schulman, group president, Enterprise Growth, American Express. "We're constantly working to bring our customers a seamless and consistent payment experience -- one that makes sense for our increasingly social lives, whether that's paying a friend back for movie tickets or sending someone money for your share of the vacation house -- it can now be sent on Facebook."

Exchanging money with friends takes three simple steps: Choose your friend to send money to, enter the dollar amount, and click send. Facebook friends are automatically populated directly into the app's interface, so there is no need to worry about finding a friend's email address or gathering additional information. Once completed, a message is immediately posted to the recipient's Facebook wall providing directions on where to collect their money or to sign up for Serve. To request money the process is just as easy, choose a Facebook friend who owes you money, send a request and get paid back.

Unlike some other products in the market, Serve has no fees to send, receive or request money, no matter what funding method a customer chooses. For more information on Serve, visit www.serve.com.

News Release from the FBI, Charlotte Division

Four Hedge Fund Managers Indicted in $40 Million Ponzi Scheme 
Defendants Join Seven Others and CommunityONE Bank Charged in Connection with the Scheme

U.S. Attorney’s OfficeFebruary 23, 2012

Western District of North Carolina(704) 344-6222

CHARLOTTE, NC—A federal grand jury sitting in Charlotte returned an indictment against Jonathan D. Davey, 47, of Newark, Ohio, Jeffrey M. Toft, 49, of Oviedo, Fla., Chad A. Sloat, 33, of Kansas City, Mo., and Michael J. Murphy, 51, of Deep Haven, Minn., on February 22, 2012, on four criminal charges relating to an investment fraud conspiracy, announced Anne M. Tompkins, U.S. Attorney for the Western District of North Carolina.

Joining U.S. Attorney Tompkins in making today’s announcement are Chris Briese, Special Agent in Charge of the Federal Bureau of Investigation (FBI), Charlotte Division, and Jeannine A. Hammett, Special Agent in Charge of the Internal Revenue Service-Criminal Investigation Division (IRS-CI).

According to the criminal indictment, the defendants operated “hedge funds” as part of a conspiracy that took in $40 million from victims for a Ponzi scheme operating under the name Black Diamond Capital Solutions (Black Diamond). The indictment alleges that the conspiracy lasted from about October 2007 through about April 2010. The indictment alleges that the defendants lied to get money from their victims by claiming, among other things, that they had done due diligence on Black Diamond and were operating legitimate hedge funds with significant safeguards, when in reality, neither claim was true. The indictment also alleges that, as Black Diamond began collapsing, the defendants and others created a new Ponzi scheme and with a separate Ponzi account that Davey administered. Thereafter, new victim money was deposited into the Ponzi account and used to make Ponzi payments to other victims and to fund the defendants’ lifestyles.

The indictment also charges Davey with tax evasion for claiming to the IRS on his 2008 tax return that $810,000 that Davey stole from victims was a “loan.” In reality, the indictment charges, Davey stole that $810,000, plus approximately $500,000 in 2009, from victims to build Davey’s personal mansion. Davey attempted to evade the taxes due and owing in 2008 by calling the money a “loan” from his investors to “Sovereign Grace, Inc.,” a Belizian corporation that Davey created as a diversion for his victims and the IRS.

The first charge against all four defendants, alleging conspiracy to commit securities fraud, carries a maximum sentence of five years’ imprisonment and a fine of up to $250,000. The second charge against all four defendants, alleging conspiracy to commit wire fraud, carries a maximum sentence of 20 years’ imprisonment and a fine of up to $250,000. The third charge against all four defendants, alleging a money laundering conspiracy, carries a maximum sentence of 20 years’ imprisonment and a fine of $250,000 or twice the amount of criminally derived proceeds. The final charge against Davey only, alleging tax evasion, carries a maximum sentence of five years’ imprisonment and a fine of up to $250,000.

The defendants will be making their initial appearances in U.S. District Court in the coming weeks.

This indictment follows a series of convictions and other charges in this matter. On December 16, 2010, Keith Simmons was convicted following a jury trial of securities fraud, wire fraud, and money laundering. Simmons is in custody awaiting sentencing.

On April 27, 2011, a criminal bill of information and a Deferred Prosecution Agreement were filed against CommunityONE Bank, N.A., for its failure to maintain an effective anti-money laundering program. As alleged in that bill of information, Simmons was a customer of CommunityONE, and used various accounts with the Bank in furtherance of the Ponzi scheme. However, as alleged in that bill of information, the Bank did not file any suspicious activity reports on Simmons, despite the hundreds of suspicious transactions that took place in his accounts.

Other defendants convicted in this case are set forth below. It should be noted that those defendants already sentenced had their sentences reduced by the Court to reflect their cooperation with the United States in its investigation and prosecution of others.

• Bryan Keith Coats, 51, of Clayton, N.C., pled guilty on October 24, 2011, to conspiracy to commit securities fraud and money laundering conspiracy. Coats is awaiting sentencing.
• Deanna Ray Salazar, 54, of Yucca Valley, Calif., pled guilty on December 7, 2010, to conspiracy to commit securities fraud and tax evasion. Salazar is awaiting sentencing.
• Jeffrey M. Muyres, 36, of Matthews, N.C., pled guilty on May 17, 2011, to conspiracy to commit securities fraud and money laundering conspiracy. Muyres was sentenced to 23 months’ imprisonment by Chief Judge Robert Conrad, Jr., on January 18, 2012.
• Roy E. Scarboro, 47, of Archdale, N.C., pled guilty on December 3, 2010, to securities fraud, money laundering, and making false statements to the FBI. Scarboro was sentenced to 26 months’ imprisonment by Chief Judge Robert Conrad, Jr., on May 4, 2011.
• James D. Jordan, 49, of El Paso, Texas, pled guilty on September 14, 2010, to conspiracy to commit securities fraud. Jordan was sentenced to 18 months’ imprisonment by Chief Judge Robert Conrad, Jr., on June 29, 2011.
• Stephen D. Lacy, 52, of Pawleys Island, S.C., pled guilty on December 9, 2010, to conspiracy to commit securities fraud. Lacy was sentenced to six months’ imprisonment by Chief Judge Robert Conrad, Jr., on May 4, 2011.

The details contained in this indictment are allegations. The defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law. The conviction or guilty plea of any other person is not evidence of the guilt of any of the defendants.

This matter is being prosecuted by Assistant United States Attorneys Kurt W. Meyers and Mark T. Odulio of the Western District of North Carolina, and the case against Jeffrey Muyres was prosecuted by Assistant United States Attorney Mark T. Odulio. The investigation is being handled by the FBI and the IRS.

News Release from the FBI

New Twists to Telephone Collection Scam Related to Delinquent Payday Loans 

Washington, D.C.February 21, 2012

FBI National Press Office(202) 324-3691

The Internet Crime Complaint Center (IC3) continues to receive complaints from victims of payday loan telephone collection scams. As previously reported in December 2010, the typical payday loan scam involves a caller who claims the victim is delinquent on a payday loan and must make payment to avoid legal consequences.

Callers pose as representatives of the FBI, “Federal Legislative Department,” various law firms, or other legitimate-sounding agencies and claim to be collecting debts for companies such as United Cash Advance, U.S. Cash Advance, U.S. Cash Net, or other Internet check-cashing services. The fraudsters relentlessly call the victim’s home, cell phone, and place of employment in attempts to obtain payment. The callers refuse to provide information regarding the alleged payday loan or any documentation and become verbally abusive when questioned.

The IC3 has observed variations of this scam in which the caller tells the victim that there are outstanding warrants for the victim’s arrest. The caller claims that the basis of the warrants is non-payment of the underlying loan and/or hacking. If it’s the latter, the caller tells the victim that he or she is wanted for hacking into a business’ computer system to steal customer information. The caller will then demand payment via debit/credit card; in other cases, the caller further instructs victims to obtain a prepaid card to cover the payment.

The high-pressure collection tactics used by the fraudsters have also evolved. In one recent complaint, a person posed as a process server and appeared at the victim’s job. In another instance, a phony process server came to a victim’s home. In both cases, after claiming to be serving a court summons, the alleged process server said the victim could avoid going to court if he or she provided a debit card number for repayment of the loan.

If you are contacted by someone who is trying to collect a debt that you do not owe, you should:

• Contact your local law enforcement agencies if you feel you are in immediate danger;
• Contact your bank(s) and credit card companies;
• Contact the three major credit bureaus and request an alert be put on your file;
• If you have received a legitimate loan and want to verify that you do not have any outstanding obligation, contact the loan company directly;
• File a complaint at www.IC3.gov.