Latest news with #regulatory
Associated Press
16 hours ago
- Business
- Associated Press
LegalBison Establishes Southeast Asia Presence with New Malaysian Office
06/20/2025, Kuala Lumpur // KISS PR Brand Story PressWire // LegalBison, a global regulatory advisory firm specializing in the FinTech and crypto sectors, has officially opened its new office in Kuala Lumpur, marking the company's first physical expansion into Asia and reinforcing its long-term growth strategy in emerging financial markets. This milestone follows the success of LegalBison's European headquarters in Tallinn, Estonia, and represents a strategic effort to better serve clients throughout Southeast Asia—including Malaysia, Singapore, Indonesia, Thailand, and beyond. 'Availability for international clients has always been one of LegalBison's key strengths,' said Sabir Alijev, Chief Product Officer at LegalBison. 'With our new presence in Malaysia, we now have a bird's-eye view of the local regulatory landscape and are ready to deliver timely, regionally tailored solutions.' Kuala Lumpur was selected for its robust regulatory institutions, economic stability, and position as a rising hub for digital finance in Asia. Establishing operations in Malaysia allows LegalBison to deepen relationships with local partners and clients while offering more agile support in licensing, AML/KYC compliance, cross-border banking, and corporate structuring. LegalBison's move reflects the growing demand for localized compliance expertise in Asia's fast-evolving financial landscape. The Malaysian team will collaborate closely with LegalBison's Estonia office to provide seamless advisory services across time zones, ensuring clients benefit from both global perspective and local insight. By anchoring its Asia-Pacific strategy in Kuala Lumpur, LegalBison positions itself as a trusted partner to startups, growth-stage firms, and enterprises navigating complex cross-border regulatory environments. LegalBison is now actively onboarding clients across Southeast Asia and is open to strategic partnerships throughout the region and globally. For media inquiries or more information, please visit or contact [email protected]. About LegalBison Founded in 2020, LegalBison is a regulatory and legal advisory firm headquartered in Tallinn, Estonia. The firm supports companies in the FinTech, crypto, and high-compliance sectors with services including licensing, compliance, banking solutions, and international corporate structuring. LegalBison provides tailored, cross-border support to help businesses navigate complex regulatory environments worldwide. Media Contact LegalBison PR Team This content was first published by KISS PR Brand Story. Read here >> LegalBison Establishes Southeast Asia Presence with New Malaysian Office
Finextra
3 days ago
- Business
- Finextra
Beyond the Firewall: Rethinking Payment Data Security: By James Richardson
In today's digital economy, protecting sensitive business payment data is no longer just the responsibility of IT or treasury departments — it's a strategic business imperative. While enterprise systems like ERP and CRM often have strong security protocols, these systems don't operate in a vacuum. Payment data is frequently copied, stored, and used across spreadsheets, shared drives, and supplier portals — far beyond the safety of core systems. That's where the real risk lies. Why Traditional Defences Fall Short Historically, businesses have relied on layered security controls like encryption, firewalls, and access policies to protect payment information. But these measures alone don't eliminate the inherent risks of decentralised data. Payment details often reside in multiple locations across an organisation — from shared folders to manual payment files — making it hard to track who has access, where data is stored, and how it's being used. In these uncontrolled environments, human error, system design gaps, and cybercriminals can easily exploit weaknesses. And the stakes are high. Data breaches involving bank account details not only damage reputations and erode customer trust but can also expose organisations to direct financial loss, fraud recovery efforts, and regulatory scrutiny. The Rise of Payment Tokenisation To address this growing threat, an additional and effective approach is gaining traction in B2B payments security: payment tokenisation. Tokenisation replaces sensitive bank account information with a secure, randomised token — a placeholder with no exploitable value. These tokens are stored and managed outside the business's systems, in highly secure external environments. The original bank data stays protected, while the business uses the token for processing payments as if it were the real thing. In practice, this means organisations can continue to run payments efficiently — but without ever holding the real account data internally. Even if a breach occurs, attackers get meaningless tokens rather than actionable payment credentials. Strategic Benefits Beyond Security The appeal of tokenisation goes beyond protecting against fraud. It simplifies compliance and risk management by centralising sensitive data into a single, tightly controlled location. That eliminates data sprawl, reduces audit complexity, and gives finance teams greater peace of mind. Organisations embracing tokenisation also gain operational resilience. Instead of relying solely on internal controls, they reduce systemic risk by shifting sensitive data management to dedicated, security-hardened infrastructure. That's especially valuable for large businesses managing thousands of payments a day or navigating complex multi-supplier networks. From Niche to Necessity While tokenisation is already well established in card payment systems, its adoption for bank account data is only just beginning. There's no regulatory requirement — yet — but that's starting to shift. Standards like PCI DSS don't currently mandate tokenisation for bank details, but forward-thinking organisations aren't waiting for legislation to catch up. Rising fraud, evolving cyber threats, and increasing expectations from partners and regulators are all pushing tokenisation from a niche solution to a best-practice standard. For financial operations teams, it's a proactive step that protects both reputation and revenue. The Strategic Imperative Tokenisation isn't just a cybersecurity tactic — it's a smarter, more resilient way to handle business payment data in a landscape where breaches are inevitable and reputational risk is high. It streamlines compliance, enhances governance, and dramatically lowers the threat posed by internal errors, third-party risks, and increasingly sophisticated attacks. The time to act is now. Businesses that wait for regulation, a major breach, or a mandate from a banking partner are already on the back foot. Forward-looking organisations are proactively removing sensitive bank account data from their systems — not simply to protect it, but to eliminate the need to hold it in the first place. Don't wait for a crisis to rethink your approach. Tokenisation is fast becoming a defining feature of modern payment security strategy. If your business handles payments, it's time to ask: why hold the risk at all?
CNA
5 days ago
- Business
- CNA
OpenAI executives have discussed accusing Microsoft of anticompetitive behavior, WSJ reports
Executives at OpenAI have discussed accusing the company's major backer, Microsoft, of anticompetitive behavior during their partnership, the Wall Street Journal reported on Monday, citing people familiar with the matter. OpenAI's effort could involve seeking a federal regulatory review of the terms of its contract with Microsoft for potential violations of antitrust law, as well as a public campaign, the report said.
Bloomberg
14-06-2025
- Business
- Bloomberg
Nigeria's Central Bank Halts Dividends, Bonuses for Some Banks
The Central Bank of Nigeria has ordered banks under regulatory forbearance to halt dividend payments, director bonuses, and foreign investments. The move aims to help lenders build financial buffers and strengthen resilience amid economic challenges.
Bloomberg
10-06-2025
- Business
- Bloomberg
Chinese Firm Halts Production of Controversial Alzheimer's Drug
A Chinese company that developed the country's first homegrown Alzheimer's disease therapy has suspended production of the drug, a local media report said, casting doubts on the treatment's future nearly five years after its approval. Shanghai's Green Valley Pharmaceutical Co. informed employees of the production halt in an internal notice at the end of May, Yicai reported Monday, citing a person it didn't identify. The company failed to renew the drug's license and is currently waiting for regulatory review, the outlet reported, citing the source.
