Economic

AI scams target seniors’ savings

Cybersecurity experts have warned that AI is being used to target senior citizens in sophisticated financial scams. The Phantom Hacker scam impersonates tech support, bank, and government workers to steal seniors’ life savings.

The first stage involves a fake tech support worker accessing the victim’s computer to check accounts under the pretence of spotting fraud. A fraud department impersonator then tells victims to transfer funds to a ‘safe’ account allegedly at risk from foreign hackers.

A fake government worker then directs the victim to transfer money to an alias account controlled by the scammers. Check Point CIO Pete Nicoletti says AI helps scammers identify targets by analysing social media and online activity.

Experts stress that reporting the theft immediately is crucial. Delays significantly reduce the chance of recovering stolen funds, leaving many victims permanently defrauded.

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AI-generated media must now carry labels in China

China has introduced a sweeping new law that requires all AI-generated content online to carry labels. The measure, which came into effect on 1 September, aims to tackle misinformation, fraud and copyright infringement by ensuring greater transparency in digital media.

The law, first announced in March by the Cyberspace Administration of China, mandates that all AI-created text, images, video and audio must carry explicit and implicit markings.

These include visible labels and embedded metadata such as watermarks in files. Authorities argue that the rules will help safeguard users while reinforcing Beijing’s tightening grip over online spaces.

Major platforms such as WeChat, Douyin, Weibo and RedNote moved quickly to comply, rolling out new features and notifications for their users. The regulations also form part of the Qinglang campaign, a broader effort by Chinese authorities to clean up online activity with a strong focus on AI oversight.

While Google and other US companies are experimenting with content authentication tools, China has enacted legally binding rules nationwide.

Observers suggest that other governments may soon follow, as global concern about the risks of unlabelled AI-generated material grows.

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Businesses absorb Bitcoin at four times the mining rate

Private and public businesses are acquiring Bitcoin nearly four times faster than miners are producing new coins, according to financial services firm River.

Companies, including publicly traded treasuries and private businesses, purchased an average of 1,755 BTC daily in 2025, with ETFs adding 1,430 BTC daily. Governments also joined in, buying about 39 BTC per day.

In contrast, miners produced just 450 BTC daily, raising fears of a potential supply crunch.

In the second quarter of 2025 alone, treasury companies acquired 159,107 BTC, bringing business holdings to around 1.3 million BTC. Michael Saylor’s firm Strategy leads with a corporate reserve of 632,457 BTC, making it the largest known holder.

Strategy says aggressive buying does not affect short-term prices, as most transactions are handled off-exchange through OTC markets. Analysts, however, continue to speculate that dwindling exchange reserves could become a powerful bullish force.

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ESMA highlights risks of tokenised equity products

A top European regulator has warned that tokenised stocks could mislead investors and undermine confidence in financial markets. Natasha Cazenave of ESMA said many tokenised stocks, like voting or dividends, lack shareholder rights.

Unlike traditional equities, tokenised stocks are typically issued through intermediaries and merely track share prices. Cazenave cautioned that retail investors may wrongly believe they own company shares, exposing them to a risk of misunderstanding.

Her warning follows the expansion of tokenised stock services on platforms like Robinhood and Kraken.

The World Federation of Exchanges recently echoed these concerns, urging regulators to strengthen oversight. Without intervention, the group warned that tokenised products could threaten market integrity and heighten investor risks.

Although advocates say tokenisation could cut costs and widen access, Cazenave noted most projects remain small, illiquid, and far from delivering promised efficiency. Regulators, she added, remain focused on balancing innovation with investor protection.

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ChatGPT safety checks may trigger police action

OpenAI has confirmed that ChatGPT conversations signalling a risk of serious harm to others can be reviewed by human moderators and may even reach the police.

The company explained these measures in a blog post, stressing that its system is designed to balance user privacy with public safety.

The safeguards treat self-harm differently from threats to others. When a user expresses suicidal intent, ChatGPT directs them to professional resources instead of contacting law enforcement.

By contrast, conversations showing intent to harm someone else are escalated to trained moderators, and if they identify an imminent risk, OpenAI may alert authorities and suspend accounts.

The company admitted its safety measures work better in short conversations than in lengthy or repeated ones, where safeguards can weaken.

OpenAI is working to strengthen consistency across interactions and developing parental controls, new interventions for risky behaviour, and potential connections to professional help before crises worsen.

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Alibaba shares soar on AI and cloud growth

Alibaba’s Hong Kong shares rose over 15%, their most significant single-day gain since early 2023, following strong AI revenue growth. AI-related sales surged triple digits, and the cloud division grew 26% to 33.4 billion yuan ($4.7 billion), exceeding expectations and driving expansion.

The results underline Alibaba’s transformation from a retail-heavy company into a diversified technology player. Analysts say AI is now a central growth driver, with cloud and AI offerings boosting investor confidence despite price war pressures from JD.com and Meituan.

Alibaba is investing in AI hardware and developing proprietary chips to reduce reliance on foreign semiconductors. The strategy aims to build faster, cheaper, and more secure AI systems for domestic and international markets, including Lazada and AliExpress.

Experts view this calculated self-reliance and strong cloud and AI services as a long-term growth driver.

While retail rivals continue to struggle with profit pressure, Alibaba’s leadership has emphasised AI as a core strategic focus.

CEO Eddie Wu emphasised ambitions in artificial general intelligence, with analysts noting AI could protect Alibaba from price wars and support growth across multiple business areas.

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Historic Bitcoin event set for November in San Salvador

El Salvador will host the world’s first state-sponsored Bitcoin conference, Bitcoin Histórico, on 12–13 November 2025 in San Salvador’s historic centre. The two-day event, organised by the National Bitcoin Office, will focus on money, culture, and crypto innovation, with early bird tickets available in Bitcoin or fiat.

Centro Histórico will be transformed into a hub for discussions, workshops, and cultural exchange. Keynote addresses at the National Palace will be broadcast to Plaza Gerardo Barrios, with additional sessions held at the National Library and National Theatre.

Speakers include billionaire Ricardo Salinas, author Jeff Booth, Bitcoin advocates Max Keiser and Stacy Herbert, Lightning Network developer Jack Mallers, and industry figures Pierre Rochard, Jimmy Song, Darin Feinstein, and Lina Seiche.

El Salvador’s government, holding 6,220 BTC, recently amended the constitution to extend presidential terms, allowing President Nayib Bukele another term.

The conference will address regulation, infrastructure, power use, financial inclusion, price volatility, and public understanding, guiding developing nations on using cryptocurrency.

The announcement coincides with a BTC recovery, trading above $109,175 following last week’s dip. Institutional demand remains strong, with Japanese company Metaplanet adding 1,009 BTC, while US spot ETFs recorded $440 million weekly inflows.

Anticipation of a Fed rate cut may further support Bitcoin and other risk assets.

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AI oversight and audits at core of Pakistan’s security plan

Pakistan plans to roll out AI-driven cybersecurity systems to monitor and respond to attacks on critical infrastructure and sensitive data in real time. Documents from the Ministry for Information Technology outline a framework to integrate AI into every stage of security operations.

The initiative will enforce protocols like secure data storage, sandbox testing, and collaborative intelligence sharing. Human oversight will remain mandatory, with public sector AI deployments registered and subject to transparency requirements.

Audits and impact assessments will ensure compliance with evolving standards, backed by legal penalties for breaches. A national policy on data security will define authentication, auditing, and layered defence strategies across network, host, and application levels.

New governance measures include identity management policies with multi-factor authentication, role-based controls, and secure frameworks for open-source AI. AI-powered simulations will help anticipate threats, while regulatory guidelines address risks from disinformation and generative AI.

Regulatory sandboxes will allow enterprises in Pakistan to test systems under controlled conditions, with at least 20 firms expected to benefit by 2027. Officials say the measures will balance innovation with security, safeguarding infrastructure and citizens.

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Walmart rolls out AI agents to transform shopping and operations

Walmart has unveiled four AI agents to ease the workloads of shoppers, employees, and suppliers. The tools, revealed at the company’s Retail Rewired event, include Marty for suppliers, Sparky for customers, an Associate Agent for staff, and a Developer Agent.

The retailer is leaning on AI as inflation, tariffs, and policy pressures weigh on consumer spending. Its agents cover payroll, time-off requests, merchandising, and personalised shopping recommendations.

Sparky is set to eventually handle automatic reordering of staples, aiming to simplify everyday restocking for households.

Walmart is also investing in ‘digital twins,’ virtual replicas of stores that allow early detection of operational issues. The company says this technology cut emergency alerts by 30% last year and reduced refrigeration maintenance costs by nearly a fifth.

Machine learning is further being applied to improve delivery-time predictions, helping to boost efficiency and customer satisfaction.

Rival retailers are making similar moves. Amazon reported a surge in generative AI use during its Prime Day sales, while Google Cloud AI has partnered with Lush to cut training costs.

Analysts suggest such tools could reshape the retail experience as companies search for ways to hold margins in a tighter economy.

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