Fri. Jun 21st, 2019

Impostor poses as Minister

It seems no one is immune from the ills of modern day technology as many Palauans and local residents found themselves receiving messages on their Messenger and Facebook accounts in the last week by someone impersonating Minister of Natural Resource, Environment and Tourism Umiich Sengebau.  The account being used have Minister Sengebau’s photo as well as his picture.

Although many locals have been aware of the scams on internet for many years, it has been for the most part easy to recognize because the person contacting you has been some foreign person, most often from African country.

This time the person that has been contacting people via Messenger or Facebook or Google Hangout, is a person impersonating a high level official, a Minister of NRET, Minister Sengebau.

Furthermore, the person has been able to talk via text to people in Palauan language.  Not only is the person speaking the local language, he or she is referencing other people that are known in the community to make his or her story believable.

In a conversation with a local woman from one of the Babeldaob States, the person expressed that he was on his way to meet Vice President Oilouch with Senator Phillip Reklai and therefore can’t receive her call, making his story believable to the local lady.

In another conversation with Senator Reklai, he said he was on the boat and asked in Palauan if the Senator slept well.

In all the messages, the hacker is telling locals that a grant opportunity is made available to locals and to help him get money via Western Union to a friend.

The hacker always avoid accepting phone calls and comes up with numerous excuses to avoid having to talk to the person he/she is scamming.

The hacker asks either for an account number or to send a certain amount of money to him in order to get the full amount of the so-called grant he promised.

With over 5,000 locals and residents using smart phones, just about everyone is getting these types of messages.

It is a good reminder before you send your money away somewhere or give someone your bank information, to ask other people to help you verify the authenticity of a person or messenger.  The proverb that says, “If it’s too good to be true, then it probably is” is a good advice when it comes to people you don’t know offering you free money. (Be suspicious of people or situations that offer a large benefit for very little in return. (L.N. Reklai)

ICB Bank and Pangea Foundation to cooperate on a password-based financial services business

June 14, 2019 - Palau ICB Bank will launch new financial services based on the Pangea Foundation and cryptography promote business.

ICB Bank on Thursday, the cryptographic currency foundation Pangea (PAN) and block chain-based cryptography and signed business agreement to promote the financial services business.

ICB Bank uses the Pangea Foundation's password currency 'Pangea' to combine financial services. We plan to jointly promote various Pin Tech businesses.

In particular, ICB Bank is working with Pangea Foundation. ICB Bank promote issuance of visa cards and master cards based on cryptography. The company is releasing debit cards that can be settled as collateral.

If a Visa or Master Card is actually issued, payment will be made in everyday life anywhere in the world. It is becomes possible, consumers can use the Visa/Master Card on-line merchant's Bitcoin, Ethereum.

The bank, a financial institution works with the Cryptographic Fund to provide financial services that can be applied in everyday life. The roll out is expected to be the first in the block chain pin tech industry.

An official from the Pangea Foundation said, "Working with the bank, in the future, global credit card companies and we will expand services to Eurpoe, Latin America and other countries in connection with possible banks." he said.

On the other hand, Cryptography Pangea (PAN) is an ERC20-based token used for remittance and payment. Adds a centralize authentication agreement to decentralized lenders technology for faster transaction rates. Billing platform at the same time. Currently, Indonesia, Vietnam, Uzbekistan, Europe, etc. and the Cryptographic Exchange of eight countries in Southeast Asia and Latin America.

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