DBS Group Holdings Ltd. CEO Tan Su Shan warned that cyberattacks represent the most significant and persistent risk facing the financial sector today, calling it the 'new war.'
Cyber Risk Intertwined with Geopolitics and AI
Speaking at the Singapore Fintech Festival on November 12, 2025, Tan Su Shan highlighted that modern cyber threats are no longer isolated incidents. She emphasized that cybersecurity risks are increasingly intertwined with geopolitical instability and the rapid advancement of Artificial Intelligence (AI).
- Perpetual Vigilance: Tan advised financial institutions to adopt a mindset of constant alertness, suggesting a philosophy of "Assume nothing, trust nothing, trust nobody."
- Proactive Defense: This vigilance translates into rigorous internal practices, such as continuous "red teaming"—stress-testing systems by simulating attacks—to anticipate vulnerabilities.
The Double-Edged Sword of Generative AI
While generative and "agentic" AI promise significant productivity gains and operational efficiencies, Tan cautioned that these technologies simultaneously expand the attack surface.
- Increased Vulnerability: The deployment of AI, especially in critical, customer-facing, or core banking systems, introduces new points of potential attack.
- Guardrails are Essential: She stressed the necessity of implementing robust "guardrails" when integrating AI into production environments to mitigate these risks.
Building Resilience Beyond Cyber Threats
Tan also addressed the broader volatility impacting the financial landscape, citing historical shocks such as pandemic disruptions, trade tensions, and geopolitical conflicts.
To build resilience against these multifaceted threats, she provided key recommendations for banks:
- Data Governance: Implement comprehensive "data lifecycle management," ensuring data is governed with clear controls from its creation through to its deletion, covering access, auditability, and transparency.
- Contingency Planning: Institutions must build redundancy, alternative operational pathways, and detailed contingency plans to prepare for worst-case scenarios.
In summary, Tan advised that success in the modern financial era hinges on smart, safe adoption of technology coupled with deep, proactive security planning.
