OpenAI’s $40 billion funding deal led by SoftBank could make it one of the most valuable private firms in the world. But there is a catch. It must fully transition to a for profit model by the end of 2025 or risk losing billions, marking a major shift for the AI company.
Elon Musk’s xAI has bought social media platform X for $33 billion, calling it a major step in combining AI with real-time public conversation. Critics are concerned about data privacy and the true value of X, while others see it as a bold move to challenge AI leader OpenAI.
From quiet meetups to packed arenas, AI conferences are lighting up cities worldwide in 2025. With tech leaders, investors and innovators joining forces, these events mark a turning point as the global push toward Industry 5.0 gains speed, creativity and serious attention.
Australians face rising cyber scams during holiday shopping, with scammers using AI-driven tactics like phishing and deepfakes. Spending $70B online puts consumers at risk, as reports show $30.7K average losses. Visa's new measures push beyond SMS OTPs to combat fraud. Stay vigilant.
With Black Friday sales kicking off the end-of-year shopping frenzy and Christmas sales now in full swing, Australians are facing an alarming surge in cyber scams designed to exploit this peak shopping season. The Australian Competition and Consumer Commission (ACCC) and the Australian Federal Police (AFP) have issued urgent warnings about the growing sophistication of these scams. Leveraging advanced technologies, scammers are preying on shoppers who are projected to spend nearly $70 billion, much of it online, during this period. The financial risks posed by these scams extend well beyond the festive season, emphasizing the need for heightened vigilance.
Scammers are increasingly deploying artificial intelligence (AI) to make their schemes more convincing. AI-generated phishing messages closely mimic legitimate communications, while deepfake technology is being used to create highly realistic video and audio impersonations of trusted individuals. Additionally, fake retail websites and QR code phishing tactics are being used to trick consumers into providing personal and financial information.
According to the Australian Cyber Security Centre’s (ACSC) 2023–24 Cyber Threat Report, identity fraud, online shopping scams, and banking fraud collectively account for a significant portion of cybercrimes, with the average financial loss per incident now reaching $30,700. In response, Australian banks and government agencies, including the Commonwealth Bank’s anti-scam intelligence loop and the Australian Banking Association’s Scams Prevention Framework, are stepping up efforts to protect consumers. The AFP’s Operation Firestorm and its public call for caution underscore the importance of staying alert and informed during this high-risk shopping season.
Visa has unveiled its Security Roadmap for Australia 2025-2028, requiring Australian financial institutions to transition away from SMS One-Time Passwords (OTPs) as the sole factor for payment authentication. This move addresses the rising threats posed by AI-driven fraud and sophisticated scams, with October 2026 set as the compliance deadline. The roadmap mandates advanced authentication measures like biometric verification, in-app authentication, app-to-app flows, and passkeys, leveraging multiple devices to fortify the payment ecosystem against evolving cyber risks.
Generative AI and machine learning technologies, coupled with the growing reliance on e-commerce, have created new vulnerabilities in payment systems, particularly exploiting human error. In 2023, Australians reported scam losses of AUD 2.7 billion across 601,000 cases, with scammers intensifying attacks during high-activity periods like the holiday shopping season.
Visa’s Martyna Lazar warned of increasingly sophisticated tactics by cybercriminals, such as social engineering and phishing, to manipulate consumers into sharing OTPs. This exploitation enables fraudulent transactions, resulting in financial and emotional stress.
The Security Roadmap outlines six strategic pillars to reinforce Australia’s payment security, including preventing automation-based enumeration attacks, advancing fraud management technologies, adopting risk-based security frameworks, and securing digital payment systems with robust protocols. Lazar urged Australians to stay vigilant, particularly during peak holiday periods, advising against sharing sensitive information through SMS or responding to suspicious links.
Visa’s collaboration with financial institutions, merchants, and consumers aims to strengthen resilience and outpace the ever-evolving threat landscape.
NVIDIA's Blackwell Chip ignites an AI innovation race, slashing DeepSeek R1’s time to 10 seconds. Dobot’s $27,500 humanoid robot dazzles, sending stocks soaring with affordable automation flair. Alphabet’s $32B Wiz buy excites markets, yet U.S. cyberattacks cast a dark shadow over tech’s rise.
Elon Musk’s X AI platform has been hit by a massive cyber-attack, leaving users in the U.S. and UK unable to refresh feeds or access accounts. Musk confirmed the attack’s severity, pointing to IP traces from “the Ukraine area,” though experts caution that origin masking is possible.
A new report by Australian researcher Lina Lau links the NSA to a cyberattack on China’s Northwestern Polytechnical University. Allegedly, NSA hackers used U.S. work schedules and American keyboards, exposing their operations.
Cisco faces fallout from a massive data leak exposing critical files, while China accuses the U.S. of cyber espionage amid rising tech tensions. AI governance sparks debate as Europe enforces strict rules, and ASIC sues HSBC for $23M scam failures. Global cyber affairs take center stage this week.
