Electronic Payment Security Not A Concern For Texans According To SWACHA Survey

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However, Small to Midsized U.S. Businesses Now Targets of European Cyber Criminal Gang; SWACHA To Offer Cyber Threats Conference to Help Businesses Combat Attacks

The good news is that an overwhelming majority of Texas bill payers report having no concerns regarding the security of electronic transactions and have never had a problem with an electronic payment according to a recently conducted survey by SWACHA - The Electronic Payments Resource. However, it may be a different story for small to midsized businesses in the United States being targeted by a gang of cyber criminals in Eastern Europe.

According to SWACHA's survey, 70 percent of Texas bill payers have no concerns regarding the security of electronic transactions. Additionally, 95 percent of respondents claim to have never had a problem with electronic payments.

"That 95 percent of those in our survey have not had a problem is very good news for our industry," said SWACHA President and CEO, Dennis Simmons, AAP. "While this recent wave of cyber crime is not targeted at individuals, we need to make sure the small and midsize businesses have the same protection and level of confidence in their electronic payment systems."

As a result of reports indicating that cyber criminals are preying on small to midsize businesses, SWACHA's 2009 Emerging Cyber Threats Conference featuring Melisa Horvath, Special Agent, FBI, and lead agent investigating cyber criminals who have targeted small and medium sized businesses will highlight the increasing risks financial institutions face when dealing with threats. It will also teach risk mitigation strategies to help combat cyber attacks. The conference is scheduled for Tuesday, September 22, 2009 from 9 a.m. to 4 p.m. at the Hyatt Regency Hotel at the Dallas/Fort Worth Airport.

For more information on the SWACHA Emerging Threats Conference, please visit http://www.swacha.org.

About the Survey
SWACHA's online survey of 400 Texans statewide was conducted in April 2009 by Infosurv with a confidence interval of 95 percent and a corresponding margin of error of +/- 4.9 percent. Only those respondents who identified themselves as the person responsible for paying household bills were permitted to complete the survey.

SWACHA-The Electronic Payments Resource® is a not-for-profit Regional Payments Association of approximately 1,100 members across the Southwest. SWACHA is the resource of choice for financial institutions and corporations in the areas of education, training, payments system risks and knowledge about electronic payments. SWACHA membership provides advantages such as superior quality training and unique industry resource materials, access to the toll-free Payments AnswerlineTM, Risk Management programs, and representation at the national level in the development of ACH policies and rules. For more information, visit http://www.swacha.org.

Editor's Note: This is the third in a series of releases based on SWACHA's 2009 Consumer Insights Survey.

CONTACT: Erin Jamison
Granado Communications Group


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Erin Jamison
Granado Communications Group
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