«AI Turns Even the Most Foolish Into a Cunning Fraudster»
Artificial intelligence is accelerating fraud across insurance and banking, with new models like Anthropic’s Mythos capable of autonomously exploiting system vulnerabilities. Industry experts warn that siloed data and legacy processes leave financial institutions vulnerable, while estimates suggest AI‑driven insurance fraud could cost up to 10% of total claims. Despite the risks, major banks such as JPMorgan Chase, Goldman Sachs and Citi are already testing AI tools, and insurers are increasing AI and data spending by more than 30% annually to catch up.
OCBC Launched Physical Gold Fund Token
OCBC, Lion Global Investors and DigiFT have launched GOLDX, Southeast Asia’s first tokenised physical gold fund on public blockchains. The token is available on both Ethereum and Solana and can be bought with stablecoins or fiat through the DigiFT platform....
Succession Ambiguity Is a Universal Risk
Asia now hosts the world’s largest billionaire pool, with 981 ultra‑rich individuals and an estimated US$5.8 trillion slated to change hands by 2030. Yet 37% of family enterprises lack a formal succession plan, creating a governance gap as wealth accelerates. Regional...
FSB Chair Warns of Rising Strains in the Financial System
Financial Stability Board Chair and Bank of England Governor Andrew Bailey warned that the war in Iran is amplifying financing costs and could deliver a "double or triple hit" to the global financial system. He highlighted that tighter credit conditions...
Singapore Pushes Integrated Professional Services Model
Singapore’s Institute of Singapore Chartered Accountants (ISCA) and the Law Society of Singapore (LawSoc) have signed a memorandum of understanding to create an integrated professional services model. The partnership will launch a Professional Services Centre and a joint digital learning...
Swiss Banking Alliance Tests Digital Franc
Swiss banking giants UBS, PostFinance, Sygnum, Raiffeisen, Zürcher Kantonalbank, BCV and Swiss Stablecoin AG announced a CHF stablecoin sandbox slated for 2026. The controlled live environment will test digital franc use cases such as programmable payments while imposing participation limits...
Jamie Dimon Warns of “Significant Challenges”
J.P. Morgan CEO Jamie Dimon warned in his annual shareholder letter that the war in Iran could trigger oil and commodity price shocks, keeping inflation sticky and pushing interest rates above market expectations. He highlighted broader geopolitical risks, including Ukraine,...
UBS Receives Reassuring Signals From Swiss Parliament
Swiss parliamentarians have informally assured UBS that the government’s proposed "too‑big‑to‑fail" capital hike will be softened. The Federal Council’s draft would force UBS to raise roughly $22 billion in capital, a figure the bank argues threatens its competitiveness. Lawmakers indicated a...
Laurent Proutière: «We Are a Hybrid, Power Boutique»
Indosuez Wealth Management Asia posted a strong 2025 performance, with assets under management climbing 23% to $23 billion and transactional revenue surging 40%. The unit added $500 million of net new money, driven by a 45% rise in discretionary portfolio management assets...