🌎 Zelle has a fraud problem

Plus: What to expect from the OPEC+ meeting Was this newsletter forwarded to you? [Sign up here]( [Quartz]( October 4, 2022 [View in browser]( Sponsored By Good morning, Quartz readers! Here’s what you need to know US banks are failing users of their peer-to-peer payment system Zelle. A report led by senator Elizabeth Warren showed victims of fraud [often don’t get compensation.]( Donald Trump sued CNN for defamation. The former president is seeking [$475 million]( in punitive damages. A UN agency called on central banks to halt their interest rates hikes. The United Nations Conference on Trade and Development [encouraged policymakers]( to use other tools to control inflation. Quantum mechanics was the focus of the 2022 Nobel Prize in Physics. France’s Alain Aspect, US’s John F. Clauser, and Austria’s Zeilinger were recognized for [pioneering quantum information science](. Kim Kardashian agreed to pay a $1.26 million fine for promoting EthereumMax… The billionaire endorsed a little known cryptocurrency on her Instagram account [without proper disclosures.]( …as US regulators called for new legislation to regulate cryptocurrencies. An interagency group suggested Congress [should focus on stablecoins](, digital assets pegged on the value of other assets like commodities and currencies. Sponsor content by The Bill & Melinda Gates Foundation The Future of Progress. Tackling two of the greatest challenges of our time — a broken food system and gender inequality — present enormous opportunities to improve the lives of millions of people.[The 2022 Goalkeepers Report]( explains how the world can accelerate solutions to these problems with human ingenuity, innovation, political will, and sustained funding. [Learn more]( What to watch for The Organization of the Petroleum Exporting Countries Plus (OPEC+), a cartel of 23 oil-producing countries, will discuss tightening output [by more than 1 million barrels per day]( (bpd) at its Oct. 5 meeting in Vienna. The last time OPEC+ agreed to a drastic production cut [was in 2020](, when the covid pandemic was crippling demand. Since then, the cartel has been raising output bit by bit. Graphic: (Ananya Bhattacharya) Last month, as recession fears pushed oil prices down, OPEC+ agreed to cut production by 100,000 bpd. It wasn’t enough to make an actual impact—JPMorgan Chase [estimates]( the output needs to be lowered by at least 500,000 bpd to stabilize prices. Russia was reportedly [one of the main proponents]( of the drastic cut. The country would benefit from a spike in prices to soften the blow of a EU embargo on Russian oil imports set to take effect on Dec. 5. Who owns AI-generated art? The use of artificial intelligence systems like DALL-E 2 and Midjourney, which take a string of descriptive prompts to generate sometimes fantastical, [often quirky art](, is only set to grow with OpenAI, the company behind DALL-E, dropping its invitation-only barrier. Creators have used systems like DALL-E to [flood stock image sites]( with new content in hopes of profiting from the fees paid to creators selling images and photos. But as the use of these programs proliferates, who really owns the art—the user or the software company? Spoiler: [Not even AI generator sites]( agree on this. And how different stock image sites like [Getty Images]( and Shutterstock treat AI-generated pictures is no less variable. Until guidelines are standardized, questions around ownership will continue to envelop the technology, making it only more contentious as it finds its way into [animated films]( and [art contests](. Gauging the UN’s sustainability goals Graphic: (Tom House) With this year’s UN General Assembly now in the rearview mirror, we’ll look back on what was accomplished, and what remains a wishful commitment. Did the delegates move the needle on human rights or sustainability efforts? Did they revive [interest in multilateralism]( as a means for solving urgent problems? Join a virtual panel of Quartz journalists and special guests as we review the impact and implications of UNGA 2022. 👉 [RSVP for this free event today](! Quartz’s most popular 💲 [​​If semiconductors are “the new oil,” what next for the petrodollar?]( 🌍 [Africa wants $1.3 trillion in climate financing]( 🏖 [What happens when employees get a three-day weekend every month?]( 🧊 [Every season is now iced coffee season]( 🧘🏾‍♀️ [Lululemon’s new workout platform has a Hollywood-inspired campaign]( 🏟 [Why Senegal is investing in air quality in stadiums]( Sponsor content by The Bill & Melinda Gates Foundation The Future of Progress. Tackling two of the greatest challenges of our time — a broken food system and gender inequality — present enormous opportunities to improve the lives of millions of people.[The 2022 Goalkeepers Report]( explains how the world can accelerate solutions to these problems with human ingenuity, innovation, political will, and sustained funding. [Learn more]( Surprising discoveries Two walleye contest cheats got caught. One team vying for the [$30,000 prize]( tried to be clever, but the judges knew something was fishy. Historic media of the Beatles was uncovered. Fans can now get a look at the band in 1961, before they [debuted](, and a video of them [visiting Japan]( in 1966. Sue the T-rex is stumping paleontologists. The dinosaur’s fossilized skull contains [eight holes](, but no one knows why. Russia’s Lego stores are now called “World of Cubes.” Plans are to open [65 shops]( across 20 cities in the country by the end of October. A Chinese vase sold for almost 4,000 times its value. A fierce bidding war [drove up the price]( from €2,000 ($1,963) to €7.7 million ($7.56 million). Our best wishes for a productive day. Send any news, comments, weighty walleyes, and overpriced vases to hi@qz.com. Reader support makes Quartz available to all—[become a member](. Today’s Daily Brief was brought to you by Sofia Lotto Persio, Julia Malleck, Ananya Bhattacharya, and Morgan Haefner. Correction: Yesterday’s email incorrectly said this month’s OPEC+ meeting is scheduled for Oct. 6. It will take place instead on Oct. 5. [🌐 View or share this email online.]( [📬 Check out our emails]( [👀 Read Quartz’s latest stories]( [📈 See what stories are trending]( 1290 Avenue of the Americas, New York, NY 10104 © 2022 G/O Media Inc. [Unsubscribe](