Abstain from potential risks of dealing virtual assets, currencies and cryptocurrencies

September 22, 2022 | | Banking, Information Technology, Investment

Summary  Cryptocurrency trading, virtual assets and virtual currencies risk is primarily related to its volatility. They are risky and speculative, and it is important to understand the risks before starting to trade. They are volatile, and unexpected changes in market sentiment can cause sharp and sudden price movements. Also, there is a possible security issue. Content  The central bank has once again... Read More

Congratulations to our client, Dr. Saiful Khandaker, for having company listed on the NASDAQ

November 21, 2021 | | Commercial, Corporate, Information Technology, International

We congratulate our client, Dr. Saiful Khandaker, a financial technology (Fintech) pioneer, for launching a company on the NASDAQ Stock Exchange as the first Bangladeshi. He is the founder and CEO of Fintech Ecosystem Development Corporation, a Special Purpose Acquisition Company (SPAC) that went public on October 19, 2021. The company is listed on NASDAQ (symbol: FEXDU) and is funded by... Read More

High Court ordered in favor of the Writ Petition brought by the users of DBW

October 12, 2021 | | Commercial, Corporate, Information Technology, Taxes & Finance

Summary: The automation facility brought by the NBR is to maintain the status quo, as ruled by the High Court in the writ petitions filed by different warehouses. Content: The National Board of Revenue (NBR) has brought a diplomatic bonded warehouse (DBW) facility under the automated system in a bid to ensure speedy services to the diplomats and check abuse of the... Read More

New York Regulator Urges Oversight for Social-Media Giants

October 15, 2020 | | Information Technology

[ Source: WSJ] New York’s top financial watchdog said a dedicated regulator should oversee large social-media platforms, which should also be designated as systemically important, following a successful cyberattack on Twitter Inc. during the summer. High-profile Twitter accounts, including those of Barack Obama and Elon Musk, were the target of a widespread attack that security experts are calling the worst... Read More

IMO has issued MSC-FAL.1/Circ.3 Guidelines on maritime cyber risk management.

September 29, 2020 | | Information Technology, Shipping

[Source: IMO] Maritime cyber risk refers to a measure of the extent to which a technology asset could be threatened by a potential circumstance or event, which may result in shipping-related operational, safety or security failures as a consequence of information or systems being corrupted, lost or compromised. Cyber risk management means the process of identifying, analysing, assessing and communicating... Read More

Internet-Connected Systems May Prompt Converged Security Models

September 19, 2020 | | Information Technology

[source: https://www.softwaretestinghelp.com/iot-devices] [ Source: WSJ] As the lines between the physical and digital worlds increasingly blur, companies are eager to remove the boundaries between how these realms are managed, experts say. The growing use of cyber-physical systems, in which a mechanical function is controlled by software, and the advent of the Internet of Things, a catchall term to describe everyday items... Read More

New U.N. regulation on vehicles’ cybersecurity systems

September 14, 2020 | | Information Technology, International

The automotive sector is undergoing a profound transformation with the digitalization of in-car systems that are necessary to deliver vehicle automation, connectivity and shared mobility. Today, cars contain up to 150 electronic control units and about 100 million lines of software code – four times more than a fighter jet –, projected to rise to 300 million lines of... Read More

Facebook launched its third-party fact-checking programme in Bangladesh

September 12, 2020 | | Information Technology, Taxes & Finance

Facebook, the world's largest social media platform with around 2.4 billion users, has assured the government that it will comply with Bangladesh's tax and value added tax (VAT) laws while operating in the country. A team of officials representing Facebook pledged to conduct monthly meetings with the Bangladesh Telecommunication Regulatory Commission (BTRC) and other vested quarters to ensure transparency in... Read More

StanChart rolls out first blockchain remittance service

September 12, 2020 | | Information Technology, International

Standard Chartered Bangladesh yesterday rolled out a blockchain-powered remittance service for Bangladeshis working in Malaysia to allow them to send money home on a real-time basis, without any hassle and at lower costs. The bank has teamed up with Ant Group, one of the world's leading digital financial services providers based in Hangzhou, China; bKash, the top mobile financial service... Read More

U.S. surveillance laws jeopardize Europeans’ privacy rights

September 8, 2020 | | Information Technology

Forging a new data-sharing agreement between the U.S. and European Union may require changes to surveillance laws, officials warned last week, raising the prospect of prolonged uncertainty for companies that relied on a trans-Atlantic agreement for facilitating digital commerce. The EU’s top court ruled in July that the Privacy Shield, a common agreement for sharing data across European and U.S.... Read More

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