Top Philippine business leaders have warned the public about a surge in sophisticated online investment scams that falsely use their names and images, prompting calls for increased vigilance and platform accountability.
San Miguel Corporation (SMC) Chairman and CEO Ramon S. Ang, and International Container Terminal Services, Inc. (ICTSI) Chairman Enrique K. Razon Jr., have both reported the proliferation of deepfake videos and fraudulent online advertisements designed to deceive potential investors.
According to SMC, these scams often appear as paid advertisements on social media platforms like Facebook and Instagram, and sometimes mimic legitimate news reports, featuring manipulated interviews and logos of established media outlets.
“These fraudulent ads are harming a lot of people,” Ang said. “We need to put a stop to them. I’m calling on government agencies, social media companies, and the public to work together to stop those behind these scams and prevent others from getting victimized.”
He added that he only maintains one verified Facebook page and that any other accounts or investment offers claiming to be him are fake.
Similarly, ICTSI has issued a warning about online scams that use manipulated videos and audio recordings to impersonate Razon and other senior executives.
ICTSI noted that these fraudulent materials falsely portray Razon promoting investment opportunities, which are entirely untrue and unauthorized.
The company emphasized that these scams are designed to appear convincing and may include offers that seem legitimate.
Both SMC and ICTSI are taking steps to combat these scams. SMC is coordinating with authorities to track down those responsible and is considering legal action, while ICTSI urges the public to verify claims through official channels, avoid sharing personal or financial information with unfamiliar sources, and report suspicious content.
Ang added that he urges Meta and other platform owners to strengthen their approval processes for paid ads.
Moreover, Ang urged the public to exercise caution online, advising them not to click, share, or engage with suspicious ads.
ICTSI similarly urged the public to be cautious when engaging with online content that references ICTSI or the Razon Group, and to report any suspicious activity.