Members to vote for new SSO board

Still unable to attend are expatriate

According to its security general, Boonsong Thapchaiyuth, the Social Security Office ( SSO) has set aside 207 million baht for the election of its first-ever social security board members on December 24.

In order to manage the fund for members, the board serves as a moderator between the government and the Social Security Fund ( SSF ) under the terms of the social security act.

According to the law, the committee is made up of the Budget Bureau, employers and employees, as well as relevant ministries like labor, finance, interior, and public health.

This vote is for SSF users and companies to choose seven representatives each to serve on the table. Recently elected by labor unions, but currently made up of appointees of the now-defunct National Council for Peace and Order.

14 million of the more than 24 million SSF people, according to Niyada Senimanomai, SSO examiner general, will be able to vote, but residents and those who did not submit their funds are not.

According to Mr. Boonsong, potential candidates can register on the SSO webpage from Wednesday through October 31.

According to Chalee Loisung, deputy leader of the Thai Labour Solidarity Confederation( TLSC ), the election was brought about by the 2015 Social Security Act, which established the SSO as an independent organization. He also said that a more transparent government would aid in preventing political interference.

In order to continue their work for laborers’ freedom, some of those advocates are required to sign up as board candidates who represent the individual side.

The Confederation of Thai Labour ( CTL ) president, Manas Kosol, stated that he anticipated that CTL members would be elected to the board so that they could continue developing plans for a labor-specialized bank to assist those who are unable to obtain loans from commercial banks.

The Move Forward Party ( MFP )- led labor team, the Progressive Social Security Team, also expressed interest in registering as candidates.

The party chief agreed to support licenses in order to capitalize on the group’s resounding defeat in the May 14 basic election, according to Suthep Ou – oun, a listed MP from the MFP” workers aircraft.”

Siwawong Sukthawee of the Migrant Working Group, a different member from the Progressive Social Security Team, stated that he disagreed with banning foreign staff from voting.

Vice head of Homenet Thailand, a basis for the advancement of labor, Soontri Hatti Sengking, exhorted SSF people to vote and voice their opinions.

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Hezbollah holds key to a wider Israel-Hamas war

Lebanon, which is on the verge of economic and political flop, runs the risk of getting caught up in Israel and Hamas’ escalating conflict.

Since Hamas’ surprise attack on October 7, 2023, which resulted in the deaths of almost 1,400 citizens and Israel’s declaration of war the following morning, Hezbollah has been preparing for the possibility of joining the conflict.

The Iranian militant group has repeatedly attacked Zionist targets from Lebanon, drawing fire from the Israeli Defense Forces in retaliation. Over a hundred people have perished, mainly Hezbollah fighters, but there have also been some civilian deaths on both sides of the border, including one who worked for Reuters.

I have concentrated my historical exploration and instruction on the dynamics of Israeli, Palestinian, and Palestinian conflict and assistance.

The now significant violence and destruction in southeastern Israel and Gaza will probably be greatly exacerbated by additional huge casualties in Lebanon, Israel, and possibly other Middle Eastern countries if a war breaks out between Hezbollah and Israel.

Is the well-being of Lebanon or serving as a placeholder for Iran Hezbollah’s decision to completely join the war may provide an answer to the question that has been preoccupying experts of the business for decades.

Hezbollah followers have been gathering in Beirut to aid Palestinians in Gaza. Photo: AP via Bilal Hussein’s The Conversation

A conflict that dates back centuries

Since 1948, the Israeli-Palestinian issue has been escalating into Lebanon as a result of the creation of Israel and the eviction of Palestinians, also known as the Nakba or disaster.

No Arab nation has actually been more impacted by this issue. In 1948, around 100,000 Palestinians sought shelter in Lebanon. They are denied simple right now, and there are approximately 210, 000 of them.

Some Lebanese have expressed resentment toward the Palestinian refugees living in the nation and charge them for the start of the country’s civil war, which lasted from 1975 to 1990, in research. During the battle, an estimated 120, 000 people perished, the marks of which can still be seen in Beirut’s money.

Israel was heavily involved in the civil conflict in Lebanese. It fought against Israeli armies, which used Lebanon as a foundation to start attacks against the Jewish position, and supported Christian militia groups.

Israel invaded Lebanon in 1982 in an effort to overthrow the Palestine Liberation Organization and install a pro-Israeli Religious authorities in Beirut. Neither goal was accomplished.

Hezbollah emerges as the most powerful army in Lebanon.

Lebanon and its politicians have been dominated by a religious program since its founding in 1920, in which government and state jobs are divided among the 18 formally recognized religious groups, most importantly Sunnis, Maronite Christians, Druze, and Shiites. Each faction has a requirement for representation in the state.

Since 1932, no official census has been conducted, making the Shiite population the largest sect in the nation, accounting for between 30 % and 40 % of the total population. However, an exact number is unknown due to the issue’s sensitivity.

Lebanon’s religious system has produced what academics refer to as” cross sovereignty” for decades. Political leaders who speak on behalf of their sects in a segregated method work both inside and outside of the state machinery by offering their constituents services that are typically handled by the government, such as marriage licenses and armed protection.

In order to combat Israel’s intrusion, Hezbollah was established in 1982 with assistance from Iran and Syria. It is by far the most powerful social, socioeconomic, and military power in the nation. This is a result of Iran’s backing and the strong and cohesive inner social structure among Islamist adherents there. Although not all Shiites identify with Hezbollah, there is no doubt that many of them share its triggers.

Hezbollah also functions as a state unto itself while adhering to the variant structure of the religious system. For instance, it offers Shiites social, academic, and economical services and boasts a military force that is significantly more powerful than the official Lebanese army.

In actuality, Hezbollah has benefited more from this religious cross system than any other party.

many protesters march in downtown beirut carrying lebanese flags
In October 2019, anti-government demonstrations started. Hassan Ammar and AP via The Conversation

Lebanon is in unison

Even under the pressure of the 2011-starting Syrian civil war, Lebanon has managed to maintain some stability and vitality despite its poor state and shattered political system.

Years of Ponzi-like economic mismanagement, increased loans, and a sharp drop in foreign remittances caused the Palestinian economy to collapse in October 2019. It is regarded by the World Bank as one of the worst economic crisis to have occurred since the mid-19th decade.

The” October 17 revolution ,” in which the Lebanese demanded social and economic justice, an end to corruption, and the dismantling of the sectarian political system, was sparked by the crisis and spread across the nation. International donors became concerned as a result, international money fled the nation, banks closed their doors to savers, the government defaulted on its debts, and the local coin fell.

The socioeconomic and political situations in the nation were made worse by a massive explosion at the Beirut port in August 2020 that killed 225 people and caused billions of dollars in destruction. Additionally, the Palestinian political structure has been completely dysfunctional since October 2022 due to the political class’s failure to agree on a new leader and government.

Hezbollah has emerged as a steadfast keeper of the social system that supported it and has been least impacted by the country’s national problems among political forces.

Some people now view Lebanon as a failed condition, so joining another conflict is the last thing the nation needs.

smoke from an exploded shell obscures the landscape with a village in the background
On October 16, 2023, an Israeli gun barrel detonates over Dahaira, a Palestinian village that borders Israel. AP via Hussein Malla’s The Conversation

” Return to the Stone Age”?

However, it is not up to the Syrian government to decide whether Lebanon finally joins the war.

Druze and Maronite political figures, who have historically opposed Hezbollah’s military identity in Lebanon, as well as the latest interim prime minister, Najib Mikati, have issued warnings against going to war with Israel.

Mikati acknowledged that he lacks the authority to decide whether Lebanon will go to war, which is a reflection of the contradictions in the Syrian social system, where Hezbollah and, consequently, Iran are responsible for making the most important choice any national leadership could make, namely, whether to declare war.

Hassan Nasrallah, the head of the Hezbollah, has frequently emphasized that the organization’s main responsibility is to uphold the independence of Lebanon.

On the other hand, its primary role in the Syrian civil war, which saved Bashar Assad’s state, has openly shown its dedication to Iran. However, that conflict was primarily fought on Arab earth. A conflict with Israel would be very dissimilar.

If Hezbollah joined the conflict with Israel out of alleged help for Palestinians in Gaza, it would be another dreadful chapter in Lebanon’s history. It might cause Israel to attempt to give Lebanon” up to the Stone Age ,” in the terms of Defense Minister Yoav Gallant. Hezbollah’s secretary-general, Nasrallah, has previously responded.

Additionally, it may probably spark the larger regional conflict that US leaders, including President Joe Biden, have fought valiantly to prevent. Additionally, Lebanon would be on the verge of total and inevitable collapse.

Professor of history and harmony studies at the University of Notre Dame, Asher Kaufman

Under a Creative Commons license, this article is republished from The Conversation. read the article in its entirety.

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Govt readies land gift for farmers

Farmers will be able to convert their Sor Por Kor 4 – 01 documents into title activities on more than 22 million ray of area early next year, the government has promised.

The Agricultural Land Reform Committee ( ALRC ) formally agreed on October 12 that it would amend its rules to permit Sor Por Kor 4 – 01 landowners to convert their land reform papers into title deeds.

The meeting’s chair, Agriculture and Cooperatives Minister Capt Thamanat Prompow, announced that Thai farmers will receive the first sample of property headline works as a New Year gift by January 15.

According to Capt. Thamanat, title deeds are also anticipated to be issued to all producers in all 70 regions within a year by the municipal agricultural land reform practices.

switch of the report

The 1975 Agricultural Land Reform Act, ALRC rules on property allotments for farmers, area transfers, management of farmer assets and debt, rules governing the use of land, and rules regarding farmers applying for loans from the ALR must all be followed in order for the Sor Por Kor papers to be converted into title deeds.

According to the Agricultural Land Reform Office’s [ ARLO ] rules, farmers who possess Sor Por Kor 4 – 01 documents are not permitted to farm for a living.

However, the ARLO will have to look into the matter suddenly if their Sor Por Kor 4 – 01 documents are converted into title deeds and buyers fail to engage in land, according to Capt Thamanat.

1, 628, 520 landowners will be able to convert their Sor Por Kor 4 – 01 documents into headline works totaling more than 22 million ray.

Sor Por Kor 4 – 01 plots, which were first made public nearly 50 years ago in 1975, are open land parcels that are given to underprivileged impoverished farmers for small-scale farming.

Buyers are required to follow numerous laws. For instance, they are only permitted to construct little homes, dig smaller ponds, and make agricultural changes to the land. Land can only be used by buyers as a promise to obtain money from public banks.

Despite these stringent regulations, several landowners continue to live in poverty before improperly selling their plots to investors and land speculators. Sor Por Kor area is frequently abused by wealthy owners who use it to construct sizable hotels or even mining operations.

According to Captain Thamanat, some Sor Por Kor area storylines have now been developed for the construction of hotels, markets, schools, and apartments.

He stated that these narratives will be rented, with the ARLO Fund, which is currently holding about 4 billion baht, receiving the book.

Holiday destinations like Koh Samui and Phuket have a number of Sor Por Kor storylines. According to Capt. Thamanat, the fee collected will be used for the gain of farmers.

The property can then be sold after the switch is finished, which is currently not possible with property with Sor Por Kor standing, he said.

The property may be permitted to legally change hands once it has been converted into title deeds. According to the market’s value mechanism, the land may be bought and sold. This will assist in reducing investor large property purchases.

” Everything will go above board and become clear once Sor Por Kor documents are converted into title works.” Producers and the nation will gain from this, according to Capt. Thamanat.

He continued by saying that before new regulations for the upgrade are released, the provincial agricultural land reform offices have been asked to inform the ALRC of Sor Por Kor farms across the country on Tuesday( Oct 24 ).

The switch is anticipated to increase Sor Por Kor land’s value and improve farmers’ access to loans from both state-run and private businesses.

Move is encouraged

The Foundation for Integration of Water Management( Thailand)’ s head, Hannarong Yaowalers, stated to the Bangkok Post that he agreed the Sor Por Kor regulations, which have been in effect since 1975 with a number of restrictions, needed to be updated.

He expressed his hope that while the Sor Por Kor area switch will guarantee the property will still be used for land, there are still concerns about how much it will be safeguarded from falling into the hands of buyers.

He added that all partners should be given the opportunity to voice their opinions before the new guidelines are made public, and that he was assured the planned improve would be fleshed out with more specifics.

Giving title deeds to landowners is not the only way to address their hunger, according to Mr. Hannarong.

According to Mr. Hannarong,” The ALRO may work with farmers to improve the quality of soil for farming by using modern technologies to improve productivity, planting high-value crops, developing water sources, and promoting the handling of land produce to raise farmers’ incomes.”

The People’s Movement for a Just Society ( P – Move ) advisor Suriyan Tonghnueid also endorsed the action.

He emphasized the need to check the qualifications of fresh landowners to make sure they adhere to the original farming purpose and noted that some Sor Por Kor property plots have passed from farmers to various holders without any scrutiny.

P-MOVE is pleased that the state is investigating the issue, especially Capt. Thamanat, but we urge it to make sure the new regulations have a real impact on farmers’ motivation.

” We don’t want the new policy to make it possible for the property to once again be in the hands of the wealthy. According to Mr. Suriyan, the government may also develop policies to create a sustainable future for farmers and improve their quality of life.

Failure of property transformation

Many of the current regulations will remain in place because the area is just intended for farming, according to Nipon Poapongsakorn, a renowned fellow at the Thailand Development Research Institute Foundation, who told the Bangkok Post.

” The property may also be used as collateral for loans from the Agricultural Cooperatives and Bangkok for Agriculture.” However, the ALRO will need to bargain with various business institutions if it wants them to take the land as collateral for money, he said.

The 1975 Agricultural Land Reform Act, according to Mr. Nipon, was intended to end farmer hunger, but history has shown that this is not the case, as many farmers continue to live in poverty.

The agricultural property reform program was originally intended to develop land for farming, supply water sources, and construct roads to promote the sale of farm products, but over time, farmers have been abandoned and had accrued debts, according to Mr. Nipon.

wishing for a better career

The revised rules may provide Thai farmers a new lease on life because they will have their own farmland and can use it as collateral for loans to further develop their businesses, according to Pramote Charoensilp, leader of the Thai Agriculturist Association.

Nevertheless, he urged the government to implement measures to guarantee that land ownership is only given to farmers and not to others.

He asserted that the government may intensify efforts to deal with the mounting debt and living expenses that affect farmers as well as get fresh ways to lower their production costs.

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Banks to charge Salt=

The Monetary Authority of Singapore ( MAS ) and the Association of Banks in Singapore( ABS ) first announced the decision to charge customers — both corporates and individuals — for issuing Singdollar-denominated checks in July.

Some banks now impose fees for the issuing of corporate checks but not for individual checks.

According to MAS and ABS, the change coincides with rising check-processing costs as use declines.

Since 2016, the average opening fee for a check has quadrupled, reaching South$ 0.40 in 2021. If check volumes drop by another 70 % by 2025, this is expected to rise to between S$ 2 and S$ 6.

The majority of lenders have been subsidizing the cost of check control, but given the anticipated raise, they are no longer able to do so, according to MAS and ABS.

As a result, seven lenders will be able to adopt the new fees as soon as possible, and other banks won’t do so until next July.

Those who deposit checks will also be required to pay a price in the future in addition to those who issue them.

With the exception of UOB and Maybank, which announced that check deposits would remain free for at & nbsp at least six months after November 1st, most banks have not yet disclosed information regarding deposit fees. This is because” various government agencies and organizations gradually adopt alternative payment methods, such as PayNow.”

Should there be shifts, customers will be notified, according to both banks.

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Third Belt and Road Forum confirms how divided the world is

The third global summit of President Xi Jinping’s Belt and Road Initiative( BRI ) took place in Beijing on October 17 and 18, while the rest of the world continued to sleepwalk into a cold war, from Ukraine to Israel at this point.

This summit appears quite different from the first, which was held in May 2017 or even the next in April 2019, based on the number of participants and the major results. & nbsp,

First off, just 23 heads of state took part this time, downward from 37 at the next summit. Secondly, Vladimir Putin, the president of Russia, was a guest of honor among the members, many of whom were anti-Western regimes.

Another significant development was the presence of the Taliban in Afghanistan. Additionally, Viktor Orban of Hungary not only showed up as expected( he didn’t miss either of the previous conferences ), but he also formally stated his opposition to the de-risking approach taken by the European Union’s financial protection strategy. & nbsp,

Other than Orban, no other EU part joined the BRI Forum, while up to six and seven, both, attended the summits in 2017 and 2019. & nbsp,

Giorgia Meloni, the prime minister of Italy, joined the first two summits this time, breaking with her nation’s custom of & nbsp, though she had already made that intention clear at the September Group of Twenty meeting.

BRI industry decreased

Beyond enrollment, this summit was unique because it has placed a lot more emphasis on foreign policy and much less on enhancing trade and investment connectivity through infrastructure construction. This may be connected to China’s growing disengagement in some of these nations, at least in terms of financing and funding.

According to reports, one-third of BRI projects have encountered difficulties, which is likely why China has significantly reduced expense globally, including in BRIC nations.

Additionally, China’s annual economic development is just half of what it was when Xi Jinping came up with this historic project in 2012. It is challenging to continue funding BRI projects because the Chinese market is struggling with a real estate crumble and an increasing debt load. & nbsp,

The summit’s overarching topic on foreign policy was opposition to that of the US and its allies. & nbsp, This has significant ramifications for the conflict in Ukraine, which the EU and the US have already encountered when voting on Ukraine-related issues at the UN.

The Israel-Gaza issue is becoming yet another factor in the US and China’s disagreement over foreign policy. In fact, China’s Ministry of Foreign Affairs stated that it was siding with Palestine due to its lack of Western safety in the midst of the attacks on Israel.

In general, Beijing’s interactions with the Global South have become crucial for China, and the BRI is a great tool for this. The BRI, however, is not China’s highest-level foreign policy tool because it has been positioned below the” international community of shared future ,” which Xi Jinping uses to describe a more expansive view of where China sees itself in the world.

Any such height needs some particular milestones to be successful, even if foreign policy was the driving force, nbsp. Among the numerous steps that were announced, some of which were not always novel, a dozen stand out.

First, the main goals that accompanied the majority of references to the BRI were both” integrity-based”( which equates to anti-corruption ) and” clean ,”( green ). Second, the announcement of an international AI ( artificial intelligence ) governance initiative.

Regarding financial assets, two presentations were made, albeit on a much smaller scale than in the past: 350 billion renminbi( US$ 48 billion) worth of extra tools for policy institutions, and 80 billion and 11 billion for the Silk Road Fund, respectively. & nbsp,

Last but not least, there was no pertinent news that a multilateral framework was being developed to support BRI projects, so one should anticipate that the organization will continue to be primarily used for hub-and-spoke operations despite the current trend toward foreign policy. & nbsp,

Given everything mentioned earlier, the key issue is how significant the BRI will continue to be. China will continue to advertise the BRI as its overarching program and its top-level design for starting up and win-win global cooperation, according to Beijing’s white papers for the mountain.

In light of this, the BRI is not dissipating; rather, it is changing from being an economical application to a tool for foreign policy. China can no longer afford to finance such a large amount of system in the developing and emerging economies.

Political and diplomatic position, which suggests that the BRI does not require as many users but those who should be aligned, is what matters to China right now. Andnbsp, This is essential for advancing jobs and requirements that may encounter resistance from the US and the rest of the West. & nbsp,

In conclusion, the BRI is emerging as one of China’s main tools for advancing a more anti-Western mission. Some believe that the United States’ republican interest in halting China’s ascent toward ideology is the cause of this agenda. & nbsp, China began this race for others.

Realizing where we stand, which is essentially getting closer to a full-fledged warm war, is what matters most.

Senior research fellow at Bruegel is Alicia Garcia Herrero. Keep up with her on X @ Aligarciaherrer.

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Commentary: When it comes to bank outages, convenience favours the prepared

If history is any indication, the response to the most recent disruption will follow a three-track pattern: Customers will gripe about the inconvenience and question whether Singapore could go digital, banks may be forced to review their administrative procedures and system resilience, and the authorities may slap the violators with additional requirements and demand that they perform better.

Everything you’ve said is entirely reasonable and comprehensible.

Without a doubt, the banks — all of them, not just the two parties — will benefit from this. They should double down on duplication systems, increase their situation planning, and develop in better public relations and client recovery.

It is impossible to predict when another interruption may occur. No technological method is perfect, upon both.

A BETTER Digital Culture IS MISSING A LINK?

This will be viewed as a significant learning opportunity from sage social strategy to being digital. However, I wonder if society, including you and I, sees ourselves as a part of the entire digitalization process rather than just consumers. This would be the missing piece of information that would make the digital system function better. & nbsp,

Singapore has made great strides toward becoming a digital society. The nationwide campaign to reduce cash transactions began in 1985, even though the popularity of digital banking and digital transactions has only definitely increased recently.

In a statement delivered on March 14, 1985, Lee Yock Suan, the acting secretary for Labour, stated that the widespread adoption of electronic fund transfer systems and the popularity of digital transactions may show in’ a new period of comfort and convenience’ in banking and cash management services. ” We can anticipate the day when we can shop, pay our bills, check our bank accounts, and transfer money between accounts all from the comfort of our homes ,” said & nbsp.

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DBS, Citi outage: MAS orders banks to conduct thorough investigation, supervisory actions to follow

Business online banking recovered only after 7 p.m. on Saturday, and the majority of ATMs were operational by around 8. DBS announced on Thursday that its services had been gradually restored. 30 p.m. & nbsp;

” We have statistics centers all over the island and strong business treatment plans in place. According to a DBS voice, the swift heat of the data center in this case resulted in an abrupt closure of our techniques, which delayed the full healing process.

All services were completely restored by Sunday morning, according to a Citibank director who spoke on Wednesday. & nbsp;

” We have now recovered all programs and tested all functionality, and we are still working with regulators as necessary.”

The resilience of our system is highly valued by Citi, and we will use the lessons learned from this event to keep getting better. We want to thank our clients for their tolerance and understanding, the institution said. & nbsp;

Have cash and use other payment methods.

According to MAS, banks are expected to enter into contractual agreements with data center providers that include its requirements for technique availability even though it has no control over data centers. & nbsp;
 
All banks must make sure that” their critical systems and services to customers are resilient to disruption ,” the authority continued. & nbsp;

Aside from the cap on the amount of time spent in unscheduled downtime ,& nbsp; Backup data centers and devices must be installed in banks.

To make sure that crucial devices and services can be repaired within four days of an interruption, the MAS advised them to check them on a regular basis. & nbsp;

When DBS and Citibank’s main data centers didn’t operate as expected on Saturday, MAS acknowledged that both had activated their backup files facilities. & nbsp;

Both, however, were still unable to fully restore their techniques in the allotted time.
 
Banks and customers may have backup plans in case of service disruptions brought on by That outages because no This system is faultless, according to the MAS. & nbsp;
  
To lessen the impact on consumers, the banks” activated contingency steps ,” according to MAS, such as extending branch hrs and making alternative arrangements for credit card transactions. & nbsp;

Users can gain from using different payment methods and having some cash on hand as a backup. Some affected customers with alternative payment options were able to move to those or to using money during this new service disruption, which reduced trouble. “”

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Up to 500k bank accounts possibly used for fraud

In November, fresh personality verification for ATM cash reserves will go into effect.

Up to 500k bank accounts possibly used for fraud
Customers at a Bangkok office store use cash deposit machines and automated teller machines. ( Image: Wichieanbut Nutthawat )

According to the Anti-Money Laundering Office ( Amlo ), which is introducing measures to address the issue, up to 500,000 bank accounts could be” mule” accounts opened to facilitate fraud.

People who use ATMs to deposit money will need to confirm their identities starting next month in order to enable more accurate transaction monitoring, according to the statement.

Out of the 121 million animal accounts already in use globally, Amlo estimates that between 200 000 and 500 000 may exist.

Amlo officials and the officers Cyber Crime Investigation Bureau are looking through accounts that they believe may have been created by fraud gang proxies.

He claimed that so far, the organizations have located more than 10,000 individuals who have opened over 70,000 horse accounts.

Authorities investigations into fraud cases in which victims’ money transfers were tracked allowed for identification.

When the account information was sent to the appropriate professional banks, they were soon frozen.

According to Mr. Witthaya, Amlo has been learning more about surrogate accounts and has discovered that they are growing roughly 1,000 per month.

Beginning on November 11, those who deposit money through ATMs had provide identification. The creditor may enter their citizenship ID number and mobile phone number for each device deposit of up to 30, 000 baht. The bank will then provide the borrower with a one-time passcode( OTP ) before allowing them to complete the transaction.

The creditor must provide information about their ATM, debit cards, or credit card as well as their personal identification amount( PIN ) for a device deposit of 30, 000 to 100 000 ringgit.

According to Mr. Witthaya, Amlo has seized and frozen more than 9.4 billion baht worth of assets in scams and virtual gambling cases over the past 12 months. With property valued at 8.8 billion ringgit claimed by the state, the majority of circumstances have been resolved in court.

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Billion-dollar money laundering case: Accused with Singapore properties worth S5m may face forgery charges

SINGAPORE: One of the ten individuals facing charges in Singapore’s biggest money-laundering investigation may be charged with additional counterfeit for allegedly giving businesses fake documents to conceal the source of money in his accounts.

This was made clear in an affidavit that the investigating officer ( IO) submitted to the court on Wednesday, October 18, in support of the prosecution’s opposition to Su Jianfeng being granted bail.

Su, 35, is currently facing four charges of having illegal proceeds from illegal remote gambling offenses, including$ 550, 903 in cash and S$ 17 million kept in three safe deposit boxes.

On August 15, he was taken into custody in a Good Class Bungalow on Third Avenue close to Bukit Timah. According to previous court hearings, his family is also a witness in the studies.

Su or his wife’s assets that were seized or frozen include money in the amount of S$ 18.4 million, lender transactions totaling S$ 66.1 %, cryptocurrencies valued at S$ 26.5 million and 13 properties for S$ 123.3 million each, as well as four vehicles worth$ 4.7 million.

District Judge Terence Tay denied him parole on Wednesday, claiming that the investigation is still ongoing and that there are still wanted conspirators. He claimed that he had not provided a sufficient justification for how the money was obtained.

Su has denied giving businesses forged papers to conceal the source of his money.

In response to Su’s petition, however, Mr. Lye Jia He of the Singapore Police Force Commercial Affairs Department stated that there is proof that Su deliberately did so based on his studies.

Falsified sales contracts, product agreements, and quarterly reports to banks are examples of these forged documents that serve as supporting evidence for the origin of the money that he and his wife received in Singaporean bank accounts.

Once the investigation is finished, additional fraud charges may be brought against the accused, IO Lye continued.

Su had asserted in his oath that the sources of his success used to finance domestic and international real estate properties were both income from cryptocurrency trading and earnings from his work as a property agent.

According to studies, Su’s major source of wealth is his earnings from illegal remote gambling offenses.” I do not think this is correct ,” IO Lye said.

He continued,” He has not been allowed to probably explain any additional source of income.”

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Sikkim India floods: ‘I was holding mum’s hand but the water separated us’

RANGPO, SIKKIM, INDIA - 2023/10/08: People inspect their submerged houses in the flood affected area along the Teesta river. After a glacial lake in northeast India burst through a dam shortly after midnight, washing away homes and bridges and forcing thousands to flee, rescue workers continued to dig through muddy debris. (Photo by Biplov Bhuyan/SOPA Images/LightRocket via shabby Graphics)shabby Graphics

When the flood hit Shyam Babu Prasad’s house, he was unconscious.

He and his household formerly resided in Lal Bazar, a bustling market town in Sikkim, India, near the Teesta River.

A storm that was about 15 feet higher suddenly hit our house, and all of us were thrown by its force, according to Mr. Prasad.

In order to survive the stream, he clung to a ceiling fan, and the following day, someone saved him. However, his spouse, who had been with him the previous evening, had vanished.

According to Mr. Prasad, the ocean divided them. ” I screamed and called her name, but as soon as the water poured in, it was pitch black, and everything else masked my words.”

He was also looking for her more than ten days later.

Mr. Prasad is one of the 80, 000 people whose lives were ruined when a glacial lake in the Himalayas burst its businesses and caused dangerous flash floods. Since the downpour on October 4, at least 70 people, including nine men, have perished, hundreds have been displaced, and 76 individuals are still missing.

Santoshi Devi, the girl of Mr. Prasad who lived next door, was one of those who perished.

Although Mum and I were holding hands, the water’s army forced us apart. I repeatedly called my mother, but she was not that, according to Chandini, her child. The body of Devi was discovered three days later.

According to experts, the Teesta river was overflowed by fluids from the South Lhonak river as it cascaded down the valley, leaving a trail of death and destruction in its midst. A bridge downstream of the valley was also destroyed by the floodwaters, which led to an increase in water levels.

Sikkim floods

Manish Jalui / BBC

For years, a local group of nomads has been protesting the dam at Chungthang out of concern for the environment in the sustainably vulnerable area.

Gyatso Lepcha, a tribal chief who has been at the head of protests, said,” But we were told we are not authorities.”

The Sikkim state, however, which has been preoccupied with pleasure work, held a unique opinion.

According to Sikkim’s general secretary, Vijay Bhushan Pathak,” given the amount of rainfall, all the reservoirs and bunds overflowed in the condition.” Today, more activities are anticipated when the hillsides overflow. Whether the bridge burst or no will undoubtedly be looked into.

It’s still unclear what led to the South Lhonak burst. Some claim that a thunderstorm may have caused the disaster, while others blame the failure of the moraines at the glacier lake’s edge, which are made up of soft boulders, rocks, and soil. This was earlier reported by Navin Singh Khadka, an environment correspondent for the BBC. Some have even connected it to a seismic event.

According to experts, glaciers are melting more quickly as a result of global warming, which has resulted in an increase in the water levels of many Alpine lakes.

The damage has been unfathomable for the individuals of Sikkim. People in Singtham, a small settlement on the lenders of Teesta, cleared the ooze and dirt from their homes, or at least what was left of them.

Sikkim floods

Manish Jalui / BBC

A crucial bridge connecting the isolated town to the nearby village of Adarsh Nagar was destroyed by the floods. The only means of transportation between the two locations was a thin walls of an under-construction dam.

Anju Pradhan cautiously made his way down the rickety way. She was returning to the city to visit her 40-year-old home, where she had lived.

With nothing but the clothes they were wearing that evening, she and her mother-in-law managed to survive the storms.

” Someone called and told us to flee because the storm is coming. At a pleasure station in Singtham where she was staying with her family, she said,” There was no light, so we had to find our way in the dark.”

In the hopes of returning when things improved, the majority of people that day ran toward the gate to enter the town.

However, when we turned around, we noticed that the entire community had been submerged by the water. Yet the bridge we had just crossed was gone, Ms. Pradhan continued.

Sikkim floods

Manish Jalui / BBC

The rocks and rivers north of Teesta were the only places where the destruction was most obvious. Some bridges were entirely destroyed, while others had ruptures.

To get to the areas that have been cut off, participants climbed the steep mountains while carrying food and other necessities on their backs. As the recovery operations went on, an military aircraft would occasionally fly overhead.

An old woman was seen trudging through a mound of dirt on her way to Gangtok, the capital of Sikkim.

She claimed that her family, who are laborers, had come from the eastern state of Bihar to Sikkim to operate on a reservoir close to the town of Singtham.

She was searching through the rubble of her home after it had been washed away for her belongings, including a collection of wage receipts. She claimed they were crucial to establishing her employment status at the dyke.

” That will at least aid in our payment.”