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'Frustrating': RSA demands action against deepfake scams after being targeted

Business

'Frustrating': RSA demands action against deepfake scams after being targeted

By Manila Bulletin

San Miguel Corporation (SMC) President and Chief Executive Officer Ramon S. Ang has issued a public warning about a deepfake video that falsely depicts him endorsing an investment opportunity.

Ang on Monday, Feb. 17, took to Facebook to denounce the fraudulent video, explaining that scammers used an old interview with broadcaster Anthony Taberna and manipulated it using deepfake technology.

"I have been receiving messages about a fake sponsored post using an old interview of mine with Mr. Anthony Taberna," Ang wrote. "Scammers have used deepfake technology to alter our conversation, making it appear that I am endorsing an investment opportunity."

Ang unequivocally stated, "Let me be absolutely clear—This is a scam. I have never endorsed, and will never endorse, any investment opportunity online."

Expressing his frustration, Ang highlighted the ease with which these deceptive videos spread, causing financial harm to unsuspecting individuals.

"It’s frustrating how easily these fake videos spread, deceiving people and taking their hard-earned money," he lamented.

Beyond warning the public, Ang also questioned the continued prevalence of these scams and the platforms that allow them to circulate. "Why are these fake ads being allowed to circulate? I hope to see real action to stop deepfake scams before more people fall victim," he stated.

Ang urged the public to exercise caution and vigilance.

"In the meantime, let’s look out for one another. Do not engage, do not invest, and report these scams when you see them. Stay vigilant, protect yourselves, and share this post to warn others," he advised.

Related Tags

Ramon S. Ang San Miguel Corp. (SMC) investment scams

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