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NewsBriefs

This article contains excerpts from news stories recently posted under Network routing under attack
Breaking Industry News on our homepage. For links to these and other
full news stories, please visit www.greensheet.com/breakingnews.php. Senator Richard Durbin, D-Ill., wants to put his proposed
new credit card routing rules on the legislative fast track.
He and Senator Roger Marshall, R-Kan., proposed an
amendment to a major defense funding bill that mirrors
legislation the two introduced in July 2022 to allow
merchant choice in the routing of credit card payments.
In a related development, the Federal Reserve finalized
changes to its rules requiring merchant choice in debit
card routing.

The Durbin-Marshall legislation would require the
Federal Reserve to issue regulations ensuring that
merchants can choose which networks process their credit
Fraudsters up their games card payments, and only one of the choices can be Visa or
Mastercard. That could create a boon for debit networks
A new report from digital trust company Sift revealed like Star and NYCE, as well as the American Express and
fraudsters are upping their games. The report details Discover networks.
the emergence of a new scam in which cybercriminals
collaborate to liquidate bank accounts through Like the Durbin Amendment, which instructed the Fed
cryptocurrency exchanges and connected wallets that to cap the fees charged retailers for debit card processing,
have been ignored amid the "crypto winter," a term coined the new legislative proposal would apply only to cards
to describe the rough patch cryptocurrencies have seen issued by the largest credit card issuers—those with over
this year. The term is comparable to a bear market in the $100 billion in assets. Similar legislation was introduced in
stock market. the House in September by Representatives Peter Welch,
D-Vt., and Lance Gordon, R-Texas.
Separately, Kasada, a firm that helps companies defend Web3 platform offers 21st century ticketing
against automated (bot) attacks, reported that revenues
lost to bot-driven account fraud are on the rise. Sift's Q3 Global ticketing company YellowHeart, based in New
2022 Digital Trust & Safety Index indicates that no industry York City, launched a Web3 platform designed to make
has been left untouched by account takeover attacks. The entertainment purchases more accessible while mitigating
company said it saw an alarming 131 percent increase ticket scalping and fraud. Josh Katz, CEO and founder of
across its global network in the first half of 2022 compared YellowHeart, pointed out that his platform leverages NFT
to the same period in 2021. and blockchain technology to create a more democratized

Quantum tech gains momentum, acclaim and transparent ticketing experience.
The 2022 Nobel Prize in Physics, awarded by the Swedish "Why is it so difficult to get a ticket to a concert, and when
Royal Academy of Sciences, reflects growing interest in you get there, half of the seats are empty?" he asked.
quantum technology applications in science and business. "And how many times has that ticket been sold before
The award of 10 million Swedish kronor will be shared you bought it?" Katz went on to say that the YellowHeart
by three physicists who led experiments with entangled platform's use of blockchain creates transparency, smart
quantum states, clearing the way for new quantum-based contracts to send resale proceeds back to stakeholders, and
solutions, according to the Nobel Committee for Physics. NFTs for proof of assets in digital files. These capabilities
are already leveling up the playing field, he added, by
Nobel laureates Alain Aspect from Université Paris-Saclay making NFT tickets more accessible to event organizers,
and École Polytechnique; John F. Clauser, J.F. Clauser & artists and teams.
Assoc.; and Anton Zeilinger, from University of Vienna,
proved that quantum mechanics enables two or more
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Among Quantum’s range of use cases are advanced mos t u p-t o-d a t e s t o ri es,
quantum-resistant fraud protection schemes designed to
can’t miss events and newest
outsmart quantum computing attacks, which experts fear c a n ’ t miss e v e n ts a nd ne w es t
industry announcements.
may one day crack public key infrastructure. ind us t r y a nno unc e me n ts.
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