The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has issued a warning to the public about a new wave of scams involving artificial intelligence (AI). These scams use AI-manipulated videos and audios to spread false information, particularly about cryptocurrency investments.

False Endorsements by AI

One of the main concerns highlighted by the BSP is the use of AI technology to create fake endorsements from prominent figures. Recently, scammers have been using manipulated content to falsely claim that BSP Governor Eli M. Remolona Jr. endorses a cryptocurrency project called “Tesler Code” and other similar investments. The BSP firmly states that Governor Remolona has not endorsed any cryptocurrency projects.

The BSP stresses that misrepresenting the central bank or its officials is a serious offense that carries legal consequences. The public is reminded to be wary of any communications that claim to be from BSP representatives, especially those promoting investments.

Protecting Yourself from Scams

To avoid falling victim to these scams, the BSP offers the following advice:

1. Be Skeptical: Question the legitimacy of any investment opportunities that sound too good to be true.
2. Do Not Share Personal Information: Avoid sharing your personal information with unverified entities or individuals.
3. Verify Communications: Always verify the authenticity of any communications claiming to be from the BSP or its officials. Contact the BSP directly through official channels if you are unsure.

The rise of AI technology has brought new challenges in identifying and combating scams. The BSP urges everyone to stay informed and vigilant to protect themselves from falling prey to these sophisticated fraud tactics.