Let me begin by saying that I am not here to lecture, but rather to learn. Today, I would like to talk about a couple of things. First, I would like to start with some themes that emerged from a roundtable discussion that the Federal Reserve held last year with industry leaders on emerging issues involving fraud in the retail payments system. This is important to the Federal Reserve. The outputs from the roundtable are used to direct the Federal Reserve’s research and inform its work. Thus, hearing your perspectives on those themes today is important. The second thing I would like to talk about is an area in which I have been doing research. These are the emerging trends in new account fraud detection for applicants on the Internet, where businesses are not physically present to authenticate the identity of customers. As everybody here knows, this is an area of growing interest throughout the banking industry.