Months after ChatGPT infiltrated copywriting and editing, a new study suggests AIs and digital assistants may soon make cold calling a thing of the past for exchange-traded fund (ETF) issuers and their financial advisory teams. Jointly conducted by Blackwater Search & Advisory and FLX Networks, the research is based on interviews with ETF issuers in the United States, Europe, Asia Pacific and Latin America.
The report, Distribution 2.0: Revolutionizing Global ETF Distribution through Technology, found numerous ETF issuers use AI and machine learning to help tailor sales strategies, techniques and communications, according to Michael O'Riordan, Blackwater founder. Jillian DelSignore, managing director, head of strategic growth & solutions at FLX Networks, mentioned that a survey respondent proposed renaming salespeople as "resource directors."
The Federal Trade Commission's consent order, Docket No. C-4795, issued May 30, 2023, will provide more debit card routing options to merchants, even for Mastercard debit transactions, FTC representatives stated, calling the move a victory for merchants that upholds the Durbin Amendment of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. FTC representatives further noted the consent order finalizes a Dec. 23, 2022, ruling requiring Mastercard to provide customer account data to competing debit card networks.
Mastercard had not been sharing this information, which prevented merchants from processing ecommerce and card-not-present debit transactions on any network other than Mastercard's, FTC officials stated. Mastercard compliance officers must submit an interim compliance within 60 days after the order's date and subsequently every 90 days for the first year.
Merchants drowning in so-called friendly fraud have been thrown a life raft by Visa. An updated set of chargeback guidelines, which took effect April 15, 2023, makes it easier for card-not-present (CNP) merchants to successfully challenge chargeback claims that they believe are fraudulent.
Visa's Compelling Evidence 3.0 guidelines (CE 3.0) expands the list of compelling evidence that a merchant can submit to their acquirer when challenging a chargeback based on claims of fraud. This might include, for example, details of prior uncontested transactions made by the same cardholder on the same website. From the merchant's perspective this would seem an obvious piece of evidence that a chargeback is questionable. But Visa rules hadn't addressed the possibility, until now.
Identity Everywhere was the theme of the 14th annual Identiverse conference, held May 30 to June 2, 2023, at the Las Vegas Aria Resort and Casino. An estimated 2,500 security professionals attended the four-day event, which featured education, networking and keynote presentations by identity community thought leaders. Consistent with the conference theme, the concept of reusable identity took center stage at the show, modeling approaches to authenticating once, instead of repeatedly, when transitioning between apps and platforms.
The 2023 Identiverse Trends Report, described reusable identity as the practice of using a single digital identity to access multiple services and applications, explaining that a user can authenticate themselves once and then access all the services linked to their identity without having to re-enter their credentials each time.
New studies by Verizon Business and NordLocker show fraudsters innovating at scale across financial and payments industry ecosystems. Primary concerns are the escalating costs and damage of ransomware attacks on public and private sector enterprises. The 16th annual Data Breach Investigations Report (2023 DBIR) by Verizon Business found soaring costs of ransomware attacks in its analysis of 16,312 security incidents and 5,199 data breaches. Researchers advised enterprises to safeguard critical infrastructure by adopting industry-leading protocols and practices.
The latest ransomware report by NordLocker shows significant changes in ransomware attacks, with the United States, Great Britain and Germany suffering the most from these incidents. NordLocker cited the three most targeted industries in 2022 as construction (142 attacks), finance (120 attacks) and manufacturing (223 attacks). 
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