Police arrest crypto fraud couple
PUBLISHED: 13 Jun 2024 at 04: 00
NEWSPAPER SECTION: News
A couple has been detained for registering with a phony crypto investment gang and opening substitute bank accounts.
The defendants were identified only as Samruay and his family, Amornsiri, both 29.
According to the Cyber Crime Investigation Bureau, they were just detained in Nakhon Ratchasima and are facing charges of money laundering, importing false information into the computer program, and colluding with authorities.
The pair admitted receiving 5, 000 baht each to open bank accounts in exchange for money the group received from false cryptocurrency investments, according to the bureau.
They traveled to Cambodia to include their faces scanned because accessing accounts with significant cash transfers requires visual acknowledgement.
Their arrests were a part of a larger commission assault known as the Black Hat Operation, which has seizes more than 125 million baht of cryptocurrency-related resources.
New State Enterprise Policy Office panel to manage securities
PUBLISHED: 13 Jun 2024 at 04: 00
The State Enterprise Policy Office ( Sepo ) is establishing a committee to manage state-owned securities, both those listed on the stock exchange and those that are not, with a combined value of more than 400 billion baht to ensure maximum efficiency.
According to Tibordee Wattanakul, Sepo’s chairman- basic, the office now holds over 100 various securities.
Some were acquired through previous government initiatives, while others were made through constitutional processes, meaning they were transferred to the state on court orders.
Selling these stocks was comparatively slower in the past, particularly for non-listed securities that had no guide price. He stated that the panel’s goal is to assess collectively how state-owned stocks should be managed, whether they should be kept or sold, with an emphasis on maximizing the country’s profit.
Now, the Finance Ministry holds around 115 stocks, both listed and unlisted on the property trade, excluding state enterprises.
These include 33 mentioned stocks, 41 unregistered stocks, and 41 acquired through constitutional proceedings, with a total price of about 400 billion ringgit. Of this number, 340 billion ringgit is held in the Vayupak Fund, and the remaining consists of various stocks.
These state-owned assets have also recently provided the Finance Ministry with income. In 2022, the government received 3.06 billion ringgit from these stocks, and in 2023, it received 3.35 billion ringgit.
The top five highest dividend- paying state securities in fiscal year 2023 were TMBThanachart Bank Plc (602.31 million baht ), Don Muang Tollway Plc ( 478.27 million baht ), Thailand Future Fund ( 186.27 million baht ), Boon Rawd Brewery Co ( 108.12 million baht ), and Bangchak Corporation Plc (98.32 million baht ).
Seven bidders qualify for old rice auction
PUBLISHED: 13 Jun 2024 at 09: 04
Seven potential suitors have been chosen to participate in the auction price of 15, 000 kilograms of grain leftover from the rice-pledging structure of the Yingluck Shinawatra government.
The bidding of the last hoard of decade-old rice likely proceed as planned next Monday, according to vice president and business minister Phumtham Wechayachai.
Eight businesses, totaling eight, expressed interest in the bid and submitted certifications in earlier this year.
Seven of the candidates were approved to participate in the selling process, according to Mr. Phumtham. The finalists will be announced on June 21. Submissions can be made from 9am to lunch.
The wheat from the Surin warehouses of Kittichai and Poolphol is leftover from the contentious rice-pledging structure that is currently being auctioned.
Mr. Phumthan expressed confidence in the success of the auction, noting that the suitors appear to have no worries about how much the wheat has been stored. The government hopes to generate income of about 270 million baht and lower store prices, which are as large as 380, 000 baht per quarter, from the bid.
The winning bidder will have 15 days to agree to a contract with the Public Warehouse Organisation ( PWO ) to finish the transaction, according to the terms of reference. The highest bidder will have the right to sign the contract if the winner declines to do so. The company must pay the difference in price to the PWO if that offer is lower than the winner’s bid.
MyCIF fuels nearly US$424mil in private investments for Malaysian MSMEs in 2023
- Invested RM289 million in 2023, boosting 3, 587 Malaysian SMEs
- New RM100 million planning in 2024 helps crops, healthcare and education areas
In a display of support for micro, small, and medium enterprises ( MSMEs ) across Malaysia, the Malaysia Co- Investment Fund ( MyCIF ) has co- invested US$ 61.25 million ( RM289 million ) through alternative financing platforms in 2023. According to the most recent MyCIF Annual Report released in May by the Securities Commission Malaysia (SC), this investment has substantially spurred the development and profitability of 3, 587 Enterprises.
MyCIF, established by the Ministry of Finance under Budget 2019, has been a key pressure in the financing environment, utilizing capital fundraising (ECF ) and peer- to- gaze ( P2P ) financing platforms to channel many- needed funds into MSMEs. Commenting on the report, SC Chairman Dr , Awang Adek Hussin ( pic ) highlighted MyCIF’s catalytic role, noting that the RM289 million invested last year has attracted nearly US$ 424 million ( RM2 billion ) in private investments.
” The agriculture market, in particular, has seen a significant 86 % increase in lenders supported by MyCIF’s crops system. Also, we have broadened our approach, supporting a higher percentage of MSMEs outside the Klang Valley, increasing from 40 % to 49 % year- on- time”, Awang Adek stated. This development demonstrates MyCIF’s commitment to promoting inclusivity and making sure that MSMEs from all sectors can benefit from these economic initiatives.
Since its founding, MyCIF has received a full allocation of RM250 million from the authorities, properly co- investing RM930 million in over 6, 000 Enterprises. This has generated a 3.7 days multiple effect, drawing in RM3.82 billion in personal assets and bringing the total funds raised with MyCIF’s aid to a remarkable RM4.75 billion. Furthermore, MyCIF has achieved a online good return on investment of RM20.7 million, which is 8.2 % of the total federal allocation.
]RM1 = US$ 0.212]
Looking back, MyCIF has been allocated an extra RM100 million in Budget 2024. This innovative funding will support initiatives in key areas such as agriculture, healthcare, education, culture, society, and Waqf resource development through State Islamic Religious Councils, aligning with the national food security and sustainability agenda.
The recent MyCIF Open Day, attended by Finance Minister II , Amir Hamzah Azizan, celebrated MyCIF’s five- year impact on MSMEs. Two additional new incentives, effective until the end of 2025, were also announced at the event that aim to encourage MSMEs in the upstream segments of the agriculture and bio-ecosystem sectors.  ,
These include investments made in eligible P2P campaigns at a 0 % financing rate, as well as the elimination of dividends earned in eligible ECF campaigns. Prime Minister , Anwar Ibrahim further extended these incentives to MSMEs involved in Waqf asset development projects, recognizing Waqf’s critical role in enhancing national food security.
The success of MyCIF serves as a pillar of the SC’s 5-year MSME Roadmap, which aims to increase access to the capital market for MSME and mid-tier companies ( MTC ). The main goal is to increase MSME and MTC capital market fundraising by more than 5 fold, from RM6.3 billion in 2023 to RM40.0 billion by 2028. SC Malaysia expressed confidence that MyCIF’s innovative co-investment model will undoubtedly play a crucial role in achieving this ambitious national target because of its proven multiplier effect.
Green crypto: Gaining acceptance a work in progress – Asia Times
As the intensity of climate change increases, attention is turning more and more toward online economies to combat their negative effects on the environment.
According to business forecasts, the international crypto market is expected to boom to$ 4.94 billion by 2030. However, the mine of digital currencies like Bitcoin requires a lot of computational power, which is a major drain on energy resources.
” Miners” use sophisticated hardware to solve complex mathematical puzzles, securing transactions and minting new pennies. But this process, known as “proof of work” ( PoW), is energy intensive.
Imagine a huge switch with a million configurations. Workers are all vying to discover the ideal combination to access the block ( a group of transactions ) and win rewards. The more processing power you have, the faster you can try different configurations.
However, this technology energy requires a lot of energy, much like how a strong car uses more fuel. Miners use a lot of energy to run super-powered computers 24/7, so they do this.
Authorities in the United Kingdom raided an business building in the year 2021 because they believed it was a place where cannabis growers could grow indoors. Rather, they were surprised to discover a massive Bitcoins mining operation that had been stealing money from a mains supply without permission.
In 2021, Crypto mine consumed enough power to rate 27th among governments, away of Pakistan with a population of over 230 million persons. Only a year later, Bitcoin’s power usage surpassed Finland’s regional power consumption.
Solutions have developed to the ever-present power consumption of crypto miners. However, the question is: Are these natural economies a viable substitute for the traditional ones?
The introduction of natural bitcoin
Green cryptocurrencies use a less energy-consuming “proof of stake” ( PoS ) procedure. Miners must possess a certain amount of the important cryptocurrency, similar to a deposit, in addition to a powerful computer.
If anyone tries to steal or mess with the system, they may reduce some of their own bitcoin. This “skin in the game” keeps the integrity of the transaction and those evaluating and validating transactions safe.
Ethereum’s movement to PoS in September 2022, through an update known as” The Merge,” was a crucial moment for those interested in natural alternatives.
This change led to a 99.9 % cut in Ethereum’s energy usage. Before the move, Ethereum’s electricity consumption was on a line with Switzerland’s. Post- merge, its energy consumption was close to that of a small area.
The difficulties and the future
In addition to Ethereum, a number of other bitcoin are making major strides in the field of alternative funding. Importantly, Cardano and Solana are gaining floor in the crypto industry. They use significantly less energy, does process larger amounts of purchases without sluggishing, and make claims that they are safe.
Despite the benefits, the switch to natural bitcoin is fraught with challenges. Some people are concerned that PoS may not be as stable as PoW. Additionally, those who have more cash have a better opportunity of validating deals. This could lead to a system being under the command of a small number of people.
Additionally, the initial supply of coins in bitcoins using PoS can be less political, usually benefiting early adopters.
Early adopters who accumulate a lot of cash you therefore have a disproportionately large impact on the community. Because it gives more energy to the rich, which goes against the fragmented attitude of bitcoin, it can be seen as less political.
Development of alternative assets continues
PoS is not the only modification made to address the power usage of bitcoin. Sharding is another.
Sharding split the network into smaller parts called” pieces”, each handling its own set of purchases. This significantly increases transaction speeds and costs because it prevents individual network computers ( referred to as nodes ) from processing everything simultaneously.
This technology goes beyond simply performance. Sharding’s horizontal processing strategy minimizes energy needs, possibly making cryptocurrencies more ecological- friendly.
Ethereum’s future upgrade, Ethereum 2.0, incorporates sharding to tackle the show’s current limitations on rate and exchange fees. By implementing caching in stages, developers hope to maintain a clean transition while maintaining the show’s safety and autonomy.
While caching seems like a sport- change, it’s not without its unique hurdles. To protect the network’s dignity, it takes careful planning and thorough testing to implement it properly.
Nevertheless, sharding provides a glimpse into the future where digital currencies does process transactions more quickly, become more affordable, and even lessen their impact on the environment.
As a model for others to follow, natural cryptocurrencies demonstrate how technology and money you contribute to environmental sustainability. However, there is always a chance. And as they develop, natural bitcoin need to tackle issues over security, system integrity and convenience.
Dulani Jayasuriya teaches accounting and finance at Waipapa Taumata Rau, a school in Auckland.
This content was republished from The Conversation under a Creative Commons license. Read the original content.
‘Still a lot of work to be done’ at home and abroad: PM Wong on GE timing
OPTIMISTIC FOR RESOLVING Spectacular QUESTIONS
Mr. Wong expressed optimism about collaborating with his Malaysian rival to resolve any unresolved diplomatic disputes, noting that there are beneficial areas of cooperation between the two parties as well as potential new areas of development in the near future.
Prior to the Singapore- Malaysia Leaders ‘ Retreat at the end of this year, the leaders of the two countries had held a joint press conference before that day, where Anwar Ibrahim, the prime minister of Malaysia, and Anwar Ibrahim, the finance minister, had previously stated that it would be “marvellous” if issues like water, airspace, and maritime boundaries could be resolved.
Mr. Wong acknowledged to the internet that these are ongoing issues, but he is still optimistic about the conversations ‘ outcome.
” My predecessor Senior Minister Lee ( Hsien Loong ) had hoped to resolve them before he handed over to me, but it did n’t materialise”, he said.
” I believe that he and PM Anwar had a very productive leaders ‘ retreat last year, and they discussed how to proceed on each of these issues. The officers have been using the mechanisms in place to speak.
He said he hopes both factors can make good progress on the issues and that his meeting with Mr. Anwar was open and useful.
” Certainly, if we can, that will be excellent. But even if we ca n’t, so long as we are making progress, closing the differences and then identifying what are the key issues that we need to resolve, and hopefully on airspace, water, maritime delimitation, the differences narrow”, said Mr Wong.
” I believe that if we are able to do so, that would still get a very good results, and then we continue,” he said.
ENGLISHING INTERNATIONAL Laws
According to Mr. Wong, Singapore and another ASEAN nations want to preserve the rule of international law and the freedom of navigation as two of their main priorities.
For example, not all places in the regional alliance are applicant states in the South China Sea debate, including Singapore, noted Mr Wong.
” But I think that all ASEAN countries may be concerned about the need to handle these disputes in a way that is both peaceful and non-violent,” he said.” But I think all ASEAN countries may be concerned about freedom of navigation, independence of overflight, and the need to solve these disputes in a way that’s consistent with global law.”
I believe that all ASEAN nations have an interest in helping outcomes be impacted by no anyone being a respondent state.
He stated that Singapore does continue to play its part in helping to navigate conversations and discussions and that the regional bloc is currently negotiating a code of conduct with China regarding the South China Sea.
Among the claim state in the regional debate are ASEAN countries Brunei, Malaysia, the Philippines, Vietnam and Indonesia.
Three seized oil-smuggling boats ‘missing’
Investigative work is underway to find out how arteries vanished from the Sattahip authorities pier.
Discussed: 12 Jun 2024 at 19: 52
Three boats carrying 330, 000 litres of illegal fuel and 18 crew members have vanished from a sea police wharf in Chon Buri’s Sattahip area.
After receiving a report from the Marine Police Division ( MPD ) regarding the disappearance, the Central Investigation Bureau ( CIB ) established a fact-finding committee.
Pol Lt Gen Jirabhop Bhuridej, the CIB director, said he had assigned his assistant, Pol Maj Gen Jaroonkiat, to go to Sattahip to check.
Three of the five warships that had been sequestered in an oil smuggling case were gone, according to a report from the nearby coastal police station in Sattahip on Wednesday at 6am. They were moored about 100 meters from the sea authorities wharf in a secure location.
Two police boats were sent to search for the three arteries. Nevertheless, they have not yet been found.
The missing boats have been identified as the J. P. with 80, 000 litres of illegal oil and 7 team members, the Seahorse with 150, 000 litres of nontaxable oil and 6 staff, and the Daorung with 100, 000 litres of untaxed fuel and 5 staff.
Authorities said that on Sunday, winds and strong winds hit Sattahip. Because their pier was unable to comfortably hold five confiscated ships, sea police ordered them to be anchored about 100 meters away from the pier.
The five warships at the Sattahip wharf, according to Pol Maj Gen Jaroonkiat, were all seizen on March 17 in connection with crude contraband.
All five warships turned on their lights on Tuesday night, according to sea officers who were working the night shift. Around 10:00 p.m., the lights were turned off. On Wednesday night, three of the canoes were gone.
According to a source with knowledge of the investigation, the three vessels belonged to a network run by” Joe Namman Thuen,” also known as” Joe Pattani,” a major oil smuggler in the South.
‘Human oversight’ enabled fired NCS employee to access company system and delete servers
SINGAPORE:  , A “human oversight” enabled a former NCS employee to enter its computer system even after he was fired, as his access was not immediately terminated, the infotech company told CNA on Wednesday ( Jun 12 ).
Kandula Nagaraju, 39, was given a two-year, eight-month prison sentence on Monday for the crime of unauthorized access to computer files.  ,
Upset about being fired, he , accessed the bank’s computer system several times using the executive registration qualifications. A trained text was later used to remove 180 virtual machines.
In response to CNA’s queries, NCS said this was an “isolated incident” involving a former contract employee who had been part of a team managing the , quality assurance ( QA ) computer system at NCS.
This Testing system includes a test environment where all new applications and programs are thoroughly tested before being released.  ,
” Due to a human oversight in administering the standalone test environment, the perpetrator’s access to the test environment was n’t terminated immediately upon departure from the company”, said NCS.
” When the illegal entry was discovered, all admittance was quickly terminated, and a policeman report filed”.
Bad WORK PERFORMANCE
Between November 2021 and October 2022, Kandula was a part of a 20-person crew that oversaw the QA computer program at NCS.  ,
No delicate data was stored on the 180 online servers that made up the system.  ,
His national last day of work was November 16, 2022, and his deal with NCS was terminated in October 2022 as a result of bad work efficiency.
According to court papers, he felt” confused and upset” when he was fired as he felt he had performed well and “made good efforts” to NCS during his career.
Between January 6 and January 17, 2023, he returned to India where he used his laptop, which he had previously used, to gain illegal access to the system six times.
Kandula returned to Singapore in February of that year after landing a new career. On February 23, 2023, he rented a room with a previous NCS colleague and accessed NCS’ system again through his Wi-Fi network.
He wrote some computer code to see if they could be used on the method to remove the servers during the two months of unauthorised access.  ,
In March 2023, he accessed NCS ‘ QA program 13 days. On Mar 18 and 19, he ran a programmed script to remove 180 online servers in the program. His script was written to automatically remove the servers at once.
The police seized Kandula’s notebook in April, and the , text used to carry out the removals, was discovered on it.
Studies revealed that he had searched on Google for code to remove online machines, which he then used to code the text.
He was always conscious that he was unfit to access the system after his career with NCS ended. As a result of his deeds, NCS suffered a reduction of S$ 917, 832.  ,
On Wednesday, NCS stated that it has implemented strict procedures and settings, and that it will continue to monitor and improve them.
Although this is a one-time affair, NCS has a zero tolerance policy against such wrongdoing, and it expects all employees to perform their duties with integrity and honesty, it continued.
Chatuchak fire sparks calls to protect animals
Fast analysis and law enforcement are urged to stop another tragedy at a large pet market.
Discussed: 12 Jun 2024 at 19: 43
Following a fatal fire at a pet business in Bangkok’s Chatuchak district on Tuesday, pet safety activists are calling for changes to the laws governing the sale of pets and wild animals.
Around 4.10 am, the fire at the Sri Somrat business, which is located next to the JJ Mall shopping center on Kamphaeng Phet 3 Road, started and took 90 minutes to contain.
It is believed that 118 pet stores in an area of 1, 400 square meters, including some exotic species, had killed a large number of animals that lived in the area.
On Wednesday, 10 organizations released a joint statement calling for action to prevent a similar tragedy from occurring repeatedly. They included the Society for the Promotion of Animal Welfare Under Royal Patronage, the Thai Animal Guardians Association, the Thai Society for the Prevention of Cruelty to Animals, and the Save Elephant Foundation.  ,  ,
They lamented the enduring the animals endured, and they expressed concern that the event had exposed Thailand in a terrible global spotlight.
The complaint of the organizations included three needs to address the situation at hand, along with potential mitigation actions, with the aim of creating a program that promotes sustainable welfare for pets.
The complaint called for a reasonable treatment of all sides in addition to a prompt investigation into the Chatuchak event.
Additionally, it demanded standardized standards for the types of structures where pets are sold, including standards for fire safety and other health measures. As well, it called for enforcement of related laws, including the Agriculture Ministry Notification on Animal Welfare Arrangements in Pet Sales Locations, BE 2563 ( 2020 ).
The Chatuchak District Office has blocked the flames field for 90 days to allow unimpeded research.
According to a statement posted on its Facebook page, fifty-eight vendors in the market have received documentation as hazard subjects.
Somchuan Rattanamangkalanont, producer- standard of the Department of Livestock Development, said most of the species died from smoke inhalation.
The surviving pets, such as birds, Savannah check snakes and bearded lion salamanders, were sent to the Kasetsart Veterinary Teaching Hospital for treatment, he said.
On his Twitter page, columnist Nitiphumthanat Ming-rujiralai posted a number of images of the field, including a photo of a Mexican Black King serpent that had bitten its own tail before passing away.
The image sparked outrage among dog lovers and raised even more allegations against the suppliers who had caged the creatures in such bad conditions.
Asean Heritage Park status sought for Bangpu
Despite being located in a generally industrialized area of Samut Prakan, this site is known for having a unique biodiversity.
Discussed: 12 Jun 2024 at 19: 38
According to a Ministry of Defense review, the government has approved the Samut Prakan Bangpu Nature Education Center’s designation as an Asean Heritage Park.
The Office of Natural Resources and Environmental Policy and Planning was given the task of writing the election schedule in accordance with Asean’s specifications by the Biodiversity Reservation and Applicant Committee.
According to the report, the program will be reviewed by Asean Centre for Biodiversity (ACB) authorities before being presented to the Asean Ministerial Meeting on the Environment.
Asean Heritage Parks are protected areas that are recognised for their unique wildlife, ecosystems, wilderness and exceptional value as spectacular, social, education, research, pleasure and tourism attractions.
According to assistant state representative Rudklao Suwankiri, the Bangpu Nature Education Center will be the 11th Thai site chosen to be an Asean heritage area.
This 411-rai page, which is situated on the property of the army’s Quartermaster Department in Samut Prakan, was established to honor Her Majesty Queen Sirikit the Queen Mother in 2004.
Despite being located in a generally professional area, the webpage was chosen for its natural completeness and special biodiversity, according to Ms. Rudklao.
Thailand now has seven Asean Heritage Parks, including Mu Ko Ang Thong National Park, Tarutao National Marine Park, Ao Phangnga National Park, Kaeng Krachan National Park, Hat Chao Mai National Park, and Khao Sok National Park.
Additionally, the government has suggested the nominations for Tham Luang, Khun Nam Nang Non National Park, Nam Naow National Park, Phu Keaw Wildlife Reservation Area, and Phu Kradung National Park.