MoneyGram 2004 Annual Report Download - page 37

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Table of Contents
significant systems redevelopment, reduce the market for or value of our products or services or render our products or services less profitable or obsolete.
See "Enterprise Risk Management — Regulatory Risk" above.
• Foreign Currency Exchange. Our results of operations may be adversely affected by fluctuations in foreign currency exchange rates affecting certain
receivables and payables denominated in foreign currency. See "Enterprise Risk Management — Foreign Currency Exchange Risk."
• Growth Rates. We cannot anticipate whether growth rates approximating recent levels for consumer money transfer transactions and other payment
product markets will continue.
• Agent Retention. We may be unable to renew material retail agent and financial institution customer contracts, or we may experience a loss of business
from significant agents or customers.
• Competition. We may be unable to compete against our large competitors, niche competitors or new competitors that may enter the markets in which we
operate.
• Product Development. We may be unable to compete or develop new products to keep pace with technological and competitive changes in the payment
services industry.
• Litigation. Our business and results of operations may be materially adversely affected by lawsuits or investigations.
• Intellectual Property. The loss of our intellectual property protection or the inability to secure or enforce intellectual property protection could harm our
business and prospects.
• Internal Controls. We may be unable to timely comply with the internal control provisions of Section 404 of the Sarbanes-Oxley Act of 2002.
• Catastrophic Events. Catastrophic events could materially adversely impact our operating facilities, communication systems and technology, our clearing
banks or major customers, or may have a material adverse impact on current economic conditions or levels of consumer spending. See "Enterprise Risk
Management — Operational Risk" above.
Actual results may differ materially from historical and anticipated results. These forward-looking statements speak only as of the date on which such
statements are made, and we undertake no obligation to update such statements to reflect events or circumstances arising after such date.
Item 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Market risk disclosure is discussed under "Enterprise Risk Management" in Management's Discussion and Analysis Financial Condition and Results of
Operations.
Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
The information called for by Item 8 is found in a separate section of this Annual Report on Form 10-K on pages F-1 through F-42. See the "Index to
Financial Statements" on page F-1.
Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
None.
Item 9A. CONTROLS AND PROCEDURES
As of the end of the period covered by this report (the "Evaluation Date"), the Company carried out an evaluation, under the supervision and with the
participation of management, including the Chief Executive Officer and the Chief Financial Officer, of the effectiveness of the design and operation of the
Company's 34