First Data shares could rise more than 70 percent: Barron’s

The payments processor, who have seen shares fall 20 percent since the IPO in 2015, making progress strengthening the balance sheet and the recover...

 

First Data shares could rise more than 70 percent: Barron's

The payments processor, who have seen shares fall 20 percent since the IPO in 2015, making progress strengthening the balance sheet and the recovery of its business, Barron’s said.

Under Chief Executive Officer Frank Bisignano, First Data has improved its technology, pay off debts and creditors to postpone to 2021 $ 5 billion in debt payments that were payable in 2018. Improved technology and his sales technique aid First Data needs to generate more revenue, Barron’s said.

First Dates are betting on a new platform called Clover helping to manage small businesses payments easier. The product is intended to increase customer loyalty.

First Data’s shares at about $ 11 trading eight times estimated 2016 earnings that are less than half the level of a number of competitors, added Barron’s.

(Reporting by Olivia Oran; Editing by Chris Reese)

LinkedIn invalidates millions of potentially compromised passwords

 

LinkedIn invalidates millions of potentially compromised passwords

LinkedIn said in a statement it is working to passwords of about 100 million accounts invalid after it “became aware of an additional set of data only released claiming that his emails and hashed password combinations from over 100 million LinkedIn members of the same theft in 2012. “

it is said that the” take immediate steps to invalidate struck the passwords of the accounts, and we will contact your members to recover their passwords. We do not any indication that as a result of a new security breach. “

stolen more than 6 million member passwords when LinkedIn was also seriously injured in 2012.

(reporting by Amy Tennery)

Facebook exec Sandberg urges graduates to build resilience

 

Facebook exec Sandberg urges graduates to build resilience

Berkeley, California. (AP) â ?? “Facebook Chief Operating Officer Sheryl Sandberg encouraged graduating seniors at the University of California, Berkeley to persevere in difficult times, speaking publicly for the first time about her husband’s death during a commencement speech.

Sandberg whose husband, Dave Goldberg, died in a treadmill accident while in Mexico vacation last year, she said, is “swallowed up in the deep fog of sadness.”

“death Dave’s change me into a very serious ways, “has its 4700 graduating seniors.” I learned about the depths of sorrow and brutality of loss. But I also learned that when life suck you under, you can kick the bottom, breaking the surface and breathe again. “

Loss her husband helped her find deeper gratitude for the grace of her friends, the love of her family and the laughter of her children. They realize that in the face of a challenge, can ‘you choose joy and meaning, Sandberg to the public.

“it is the greatest irony of my life lost my husband helped me find deeper gratitude,” she said.

Sandberg encouraged UC Berkeley’s 2016 graduate class to build resilience in themselves, their workplaces and their communities. “When coming challenges, I hope you have some embedded deep within you is the ability to learn and grow,” she said.

Google says ‘no’ to payday lender ads

 

Google says 'no' to payday lender ads

(Reuters) -. Google, a unit of Alphabet Inc., said it would prohibit advertisements for payday loans because it is “deceptive and harmful financial products” to vulnerable customers

Google, which Facebook connect Inc. in concluding advertising by payday lenders, announced his decision presented a day after the US Treasury that online lenders supports greater transparency in their transactions.

payday lenders that small loans at high interest rates that must be followed to provide repaid within a short period of time, came under criticism as lenders often fails to pay the loan or tendency refinance them to increase their debt.

“Research has shown these loans can lead to priceless payment defaults and high for users,” said David Graff, director of global product policy at Google, said yesterday in a Google blog. (Http://bit.ly/1qe5nMP)

Shares in online lender Enova International Inc. has 6.2 percent on Wednesday, while the World Acceptance Corp was en 3 percent.

“It is disappointing that a website created to help give users full access to information that arbitrary choices on the ads users are allowed to see the legitimate enterprises,” Kirk Chartier, Enova chief marketing said in a statement.

He added that Enova significant impact on its business from Google’s decision is not expected.

The company will advertise loans where repayment due prohibited within 60 days from the date of issue. In the United States, the company will also advertisements for loans with annual percentage rates (APRS) of 36 percent or more prohibited

Federal policy makers and regulators in the past discussed and rejected the idea of ​​limiting the APRS. – Whether annual interest rates on loans – 36 percent. Some states, including New Hampshire and Montana, has done so at the local level, but according to the Consumer Federation of America.

“To an ad rule that not only make disturbing violated state and federal law, but it is discriminatory,” Lisa McGreevy, CEO of Online Borrowers Alliance, told Reuters.

“a certain class of people who would otherwise not regular credit eligibility now can get credit … It is their (Google) decide who can and can not credit information.”

Ads that appear on the top and right side of a Google search results will not display more marketing of the payday lending industry started 13th July.

Before massive Bangladesh heist, New York Fed feared such cyber attacks

 

Before massive Bangladesh heist, New York Fed feared such cyber attacks

(Reuters) – In the years before hackers have stolen $ 81 million from a Bangladesh central bank account at the Federal Reserve Bank of New York, Fed senior security officials examine the risk of such an attack – but judged it unlikely prospect, banking sources told Reuters.

The Fed managers ensure that lax security procedures and outdated technology could result in a certain foreign central banks to cyber-criminals on local computers comma deer and break foreign accounts at the US central bank, according to interviews with seven current and former New York Fed officials and a former US government official familiar with the bookings.

In a few years, New York Fed and Federal Bureau of Investigation officials discusses made the risk of attack by using the bank Systema ???? se kommunikasie network known as SWIFT, and according to Fed officials, who spoke on condition of anonymity.

???? The New York Fed is involved in numerous vulnerabilities, â ???? said the former government official. â ???? SWIFT was a them.A ????

But the Fed’s targeted security resources on other priorities, such as the prevention of money laundering and the enforcement of US economic sanctions, officials with knowledge of the Banka ???? security operations, told Reuters. Fed officials have consolation in the fact that SWIFTâ ???? security software has never been cracked, officials have said.

The immediate consequence of the rupture of the New York Fed is a requirement of the Bangladesh Bank for the payment of lost money and a potential lawsuit. Except that the raid showed that the US central bank long understood the potential systemic risk of a major global financial network, but was unable or unwilling to address it.

The New York Fed declined to comment on previous safety priorities or whether this has changed since the robbery. SWIFT declined to comment.

Before the raid, a New York Fed officials ordered consider the threat of fraudulent transfer by SWIFT a a ???? Riska tail ???? â ?? “A statistical term for events with a low probability but serious consequences, says a well-placed official with knowledge of the talks Februaryâ ???? se theft of Bangladesh Bank fits this description. – A fat cyber heist in which thieves try almost $ 1 billion withdraw dozens of requests.

the crime rattled the banking sector, as the channel for the theft was the SWIFT network, an acronym for the Society for Worldwide Interbank Financial Telecommunications. a cooperative under guard 20 of the ???? elite world’s largest central banks, fast connection over 11,000 financial institutions worldwide who use it to order transfers.

a ???? what everyone realize now is that no human being can never really appreciate it risk, â ???? said the person with direct knowledge of the New York Feda ???? ‘s deliberations.

SWIFT has said that the regime change involved Bangladesh Bank SWIFT software computers to prove fraud hide transfer. Last week, SWIFT acknowledges that the Bangladesh Bank attack was not an isolated incident, but one of a number of recent criminal schemes focused on the message platform. SWIFT refused to expand.

Two Bangladesh Bank officials told Reuters they believe both the New York Fed and SWIFT bear responsibility for the failure to prevent the attack. Officials earlier told Reuters that SWIFT Bangladesh Bank no prior warning about vulnerabilities, and the New York Fed to stop fraudulent orders when they reached New York.

The head of Bangladesh Bank is scheduled next week to meet with New York Fed President William Dudley and a senior executive of SWIFT to discuss the matter. SWIFT said the attack was related to an internal operational matter at Bangladesh Bank, and the New York Fed said it has no evidence that its systems compromised.

Richard dzina, head of the New York Feda? ??? s wholesale product office, in response to a banking conference yesterday, said Bank employees ???? acted properlyâ ???? in releasing the funds. The system is penetrated, he said, not because the hackers valid credentials obtained in the transfer order.

$ 80 billion per day

The New York Fed holds trillions of dollars in funds for central banks worldwide. It processes about $ 80000000000 in transfer funds in and out of their accounts every day, according to a New York Fed official.

Security handled by the New York Feda ???? the Central Bank and the International Account Services (CBIAS) division, a well-preserved operation inside the fort in Lower Manhattan. CBIAS know risk profil to individual countries and regions, the assessment of government stability, threats of terrorism and organized crime activity in deciding how money waiver to central banks and other official bodies, current and former Fed officials said.

In the months before the attack, the protection unit focuses on bulk up to protect its anti-money laundering, an initiative driven by the Board of Directors of the Feda ???? s Washington headquarters, according to two people familiar with the plan. Another priority is the Feda ???? protect private Fedwire payments system against cyber attacks, said several current and former Fed officials.

Most transfer requests are automatically approved after computer display. Only a few of about 2,000 daily transactions marked by employees, according to a New York Fed official.

Use one of the officers said automatic scanners for quick payments effective for the prevention of money laundering and the enforcement of economic sanctions was – but will not defend the bank against fraudulent transfers.

???? There is a balance here that needs to be struck between allowing customers to make new payments and to carry out their activities in a timely manner, and also to avoid really unpleasant and obvious fraud, â ??? ? said Shehriyar Antia, a former senior New York Fed policy advisor and analyst in the CBIAS unit

The CBIAS system specifically checks for typographical errors -. and it was a thiefâ ???? s type of error, along with an unusually high number of requests for payments to private parties, which warned the Fed ???? The cyber attack Februaryâ, the bank sources told Reuters. Once alerted, the Fed suspended payments on most of the requests from the Bangladesh Bank, but not before the thieves withdrew $ 81000000.

The Bangladesh Bank, a Bangladeshi police and the FBI is investigating the attack.

A Bangladeshi policeman who departmenta ???? forensic training head earlier told Reuters that SWIFT servers at the central bank of Bangladesh were vulnerable to hackers due to the lack of a firewall and a lack of basic security protocols.

LOS CONTROLS

Three former officials said the New York Fed recently focused Ona loose control terminals and other access to the SWIFT network on foreign central banks, where bankers often ordered withdrawals for hundreds of millions of dollars.

The concern focused on the possibility that banks’ computers implanted with malware or attackers could steal or buy it for sale legal credentials of employees, said former US government official. An additional concern, according to two former Fed officials, the possibility was that a corrupt insider â ?? “Possibly a bank employee a ??” access to the SWIFT network and may have prompted a fraudulent payment.

Year of the management of foreign central bank bills have a number of Fed officials worry that some banks is poorly equipped to deal with the local safety due to a lack of infrastructure investment and other procedural issues. But the Fed does not have the ability to audit security protocols with correspondent central banks.

???? The vulnerability is that central banks, even in developing countries, has a very money proportion to their level of sophistication, â ???? said concerned officials with knowledge of the security. â ???? Ita ???? is not only Bangladesh.â ????

(Be by David Greising; Editing by Brian Thevenot and Edward Tobin)