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The Hong Kong Monetary Authority (HKMA) today announces a new service schedule of the two “Coin Carts” under the Coin Collection Programme, for the period of 20 May 2019 up to 28 July 2019. The schedule and other details of the Programme are shown on the HKMA webpage (coincollection.hkma.gov.hk). (press release) .

Comment: Virtual banking is recognised, cryto-currencies are not.

BIScom Subsection: 

If you are planning to spend money for the Alibaba-inspired "Singles Day" on 11 November, be warned. Fraud happens and when it does, you have little or no recourse from any of the companies behind the scheme, and little or no help to try to recover your losses. But even more than that, the case shows how mobile payments are inherently risky and are ready channels for fraudsters to use.

When Miss B, a resident of Shanghai, posted an advertisement on Xianyu, the Alibaba-owned equivalent of e-Bay, and a division of Taobao, she was delighted to receive a response almost immediately. Someone wanted to buy her barely-worn designer shoes for the asking price. Then the fraud started and Taobao / Xianyu, WePay and AliPay have failed to act, leaving her substantially out of pocket when, had they...



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