BANGKO Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. on Friday warned against fraudulent activities using AI-generated content on social media, as he denied allegations that he is endorsing cryptocurrency.
In a statement released on Friday, the central bank clarified that the BSP chief does not endorse any crypto investment, following the circulation of fake videos on Facebook that were edited to falsely depict Remolona endorsing a cryptocurrency project.
“The BSP clarifies that Governor Eli M. Remolona Jr. does not endorse the alleged crypto currency project ‘Tesler Code’ or any other cryptocurrency investment,” the central bank said.
“The act of misrepresenting the BSP or any of its officers or units is punishable under the law,” the bank warned.
The video included an edited clip sourced from an episode of ANC’s Business Outlook, in which Remolona and Ayala Corporation Chairman Jaime Augusto Zobel de Ayala were mentioned.
“The entrepreneur Jaime Augusto Zobel, along with [US businessman] Elon Musk, invite you to participate in Tesler Code, a financial investment program created jointly by both entrepreneurs to boost the national economy,” the video says.
Earlier this week, the Ayala Corp. refuted the video’s claims, emphasizing that their chairman has no association with cryptocurrency endorsers.
“We would like to inform the public that Mr. Jaime Augusto Zobel de Ayala, Chairman of Ayala Corporation, is not involved in any way and is not promoting the supposed cryptocurrency project ‘Tesler Code’ or any other cryptocurrency investment,” the firm said in a statement.
“We have taken necessary steps to take down the fake and malicious websites, social media pages, and advertisements misusing the name of Mr. Zobel and the Ayala group,” it added.
According to the central bank, these fraudulent activities involved spreading false information about various organizations and officials, including the bank and its personnel.
To protect against such scams and similar schemes, the BSP urged the public to stay vigilant and avoid disclosing personal information to unverified or suspicious entities.
Individuals were also encouraged to verify the legitimacy of messages from purported BSP officers or representatives and to report any suspicious activities promptly.
Lawmaker’s name used
Meanwhile, House Deputy Speaker Rep. Camille Villar-Genuino on Friday warned the public against engaging in any entity using her name in fraudulent activities.
“It has come to my attention that several persons or entities have been unscrupulously using my name and pretending to be my representatives to defraud unwitting victims. They are claiming that I am offering business opportunities or investments,” Villar-Genuino, who also is the managing director of Vista Land commercial division and the president and CEO of All Value Holdings Corp., said in a statement.
The lawmaker and businesswoman said that these offers are intended to scam the public and urged them to report these to authorities.
“Please be aware that these claims are false and are intended to scam the public. If you have received such messages, please report them to the authorities immediately,” she stated.
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