Hong Kong police have arrested more than 500 protesters who staged a pro-democracy sit-in at the city's business district.
The arrests came at the end of a largely peaceful rally on Tuesday (July 1) . It was the biggest rally on the street since the city was handed over from Britain to China in 1997. Waving colonial-era flags and shouting anti-Beijing chants, protesters
carried banners emblazoned with slogans including "We want real
democracy".
Discontent in Hong Kong of some seven million people is at its highest level
in years over Beijing's insistence that it vet candidates before a vote
in 2017 for next leader.
At the end of Tuesday's march, few hundreds of people joined a sit-in in
Hong Kong's business district, with police moving in at 3:00 am
to break up the protest.
Police arrested hundreds of people who were participating in an assembly that was not approved.
Wednesday, 2 July 2014
Singapore to stop issuing $10,000 Notes
Singapore will not be printing $10,000 from October 1. This is to reduce the risks of money laundering, the Monetary Authority of Singapore (MAS) announced on Wednesday (July 2)
The development of more advanced and secured electronic payment systems has reduced the need for large value cash-based transactions, said Director Ong Chong (MAS Deputy Managing) at the ABS Financial Crime Seminar on Wednesday.
Mr Ong also said MAS plans to launch a public consultation on proposed amendments to its regulatory framework to tighten checks against money laundering and terrorist financing. Proposed amendments include requiring banks to screen customers and providing a risk-based approach for “politically exposed persons”.
The development of more advanced and secured electronic payment systems has reduced the need for large value cash-based transactions, said Director Ong Chong (MAS Deputy Managing) at the ABS Financial Crime Seminar on Wednesday.
Existing S$10,000 notes in circulation will remain legal tender, including all notes under the Currency Inter-changeability Agreement with Brunei. However, we expect the stock of such notes to dwindle over time, as worn notes are returned to us and not replaced,- Ong Chong Tee
Mr Ong also said MAS plans to launch a public consultation on proposed amendments to its regulatory framework to tighten checks against money laundering and terrorist financing. Proposed amendments include requiring banks to screen customers and providing a risk-based approach for “politically exposed persons”.
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