Western Union 2012 Annual Report Download - page 9

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4
• adverse movements and volatility in capital markets and other events which affect our liquidity, the liquidity of our agents or
clients, or the value of, or our ability to recover our investments or amounts payable to us;
• any material breach of security or safeguards of or interruptions in any of our systems;
• our ability to attract and retain qualified key employees and to manage our workforce successfully;
• our ability to maintain our agent network and business relationships under terms consistent with or more advantageous to us
than those currently in place;
• adverse rating actions by credit rating agencies;
• our ability to realize the anticipated benefits from productivity and cost-savings and other related initiatives, which may include
decisions to downsize or to transition operating activities from one location to another, and to minimize any disruptions in
our workforce that may result from those initiatives;
• our ability to protect our brands and our other intellectual property rights;
• our failure to manage the potential both for patent protection and patent liability in the context of a rapidly developing legal
framework for intellectual property protection;
• changes in tax laws and unfavorable resolution of tax contingencies;
• cessation of or defects in various services provided to us by third-party vendors;
• material changes in the market value or liquidity of securities that we hold;
• restrictions imposed by our debt obligations;
• significantly slower growth or declines in the money transfer, payment service, and other markets in which we operate;
• changes in industry standards affecting our business;
Events Related to Our Regulatory and Litigation Environment
• the failure by us, our agents or their subagents to comply with laws and regulations, including regulatory or judicial
interpretations thereof, designed to detect and prevent money laundering, terrorist financing, fraud and other illicit activity,
and increased costs or loss of business associated with compliance with those laws and regulations;
• changes in United States or foreign laws, rules and regulations including the Internal Revenue Code, governmental or judicial
interpretations thereof and industry practices and standards, including the impact of the Foreign Account Tax Compliance
provisions of the Hiring Incentives to Restore Employment Act;
• liabilities resulting from a failure of our agents or their subagents to comply with laws and regulations;
• increased costs or loss of business due to regulatory initiatives and changes in laws, regulations and industry practices and
standards affecting us, our agents, or their subagents;
• liabilities and unanticipated developments resulting from governmental investigations and consent agreements with, or
enforcement actions by, regulators, including those associated with compliance with, failure to comply with, or extension of,
the settlement agreement with the State of Arizona;
• the impact on our business from the Dodd-Frank Wall Street Reform and Consumer Protection Act, the rules promulgated
there-under, and the actions of the Consumer Financial Protection Bureau;