RHTLaw Taylor Wessing Head of Financial Services Nizam Ismail was interviewed by Channel NewsAsia on the launch of the Visa Monaco Crypto Card in Singapore. The full interview was featured on Channel NewsAsia’s Singapore Tonight segment on 2 November 2017.
The interview makes relation to Monaco, a cryptocurrency payment platform, that has confirmed the launch of its prepaid card in Singapore based on the VISA gateway. The prepaid card has been approved for issuance to Singaporean residents and accepted at 44 million merchant locations in the payments network.
Nizam pointed out that there is an “obligation on the service provider to look at transaction records and to spot red flags in advance, such as any suspicious movement of funds, on an ongoing basis."
The move marks an important step towards introducing such digital currencies to the mass market. To date, Visa has also approved programmes that allow consumers to convert cryptocurrency into legal tender for BitPay and Shift Card.
Please watch the video for the full interview.
RHTLaw Taylor Wessing Intellectual Property & Technology Partner Jack Ow was quoted in an article published in SecurityBrief Asia titled “In depth: A lawyer's perspective on ethical hacking & penetration testing in Asia”.
The article was first published in SecurityBrief Asia on 26 October 2017.
The article discussed the possibility of ethical hacking and penetration testing taking a bigger role as organisations increasingly rely on technologyfor daily and critical operations. Jack commented on (1) how ethical hacking and penetration testing could go some way toward identifying new or unknown vulnerabilities for the improvement of existing defences”, (2) the associated legal risks and regulatory considerations, and (3) the importance of having appropriate policies and practices to guard against abuse and to manage security risks.
The full article dated Thursday 26 October 2017 can be found in SecurityBrief Asia.