Tycoon Targets: Deepfakes Strike at the Heart of Wealth
MANILA, Philippines – Business tycoons Ramon Ang and Enrique Razon Jr. have warned the public about deepfake scams and counterfeit advertisements on social media platforms that misuse their identities for deceptive investment opportunities.
Yesterday, San Miguel Corporation (SMC) Chairman and CEO Ramon Ang once again cautioned the public regarding the proliferation of counterfeit videos and internet advertisements that misuse his name and likeness to endorse unlawful financial schemes.
The video content, appearing as sponsored posts on Facebook, Instagram, and various social media channels, employs sophisticated techniques such as deepfakes to mimic genuine news reports, thereby deceiving viewers.
“These deceptive advertisements are causing significant harm to many individuals. We must take action against them. I urge government organizations, social media platforms, and citizens to collaborate in order to halt those responsible for these frauds and protect others from falling prey,” Ang stated.
Ang reaffirmed that he is not promoting any investment plans and is neither backing nor participating in any type of online financial opportunity.
He mentioned that SMC is considering taking legal action and is prepared to assist with investigations as well as potential prosecutions of those involved in the scams.
In order to safeguard the community, SMC has been working alongside officials to locate those accountable.
Ang also called on Meta and other platform proprietors to enhance their verification procedures for sponsored advertisements – particularly those that utilize the names and images of public figures without consent.
“These technology platforms possess the means to halt this situation. We’re requesting they take additional steps to safeguard their users,” he stated.
The International Container Terminal Services Inc. has alerted the public about online frauds that involve doctored videos and voice recordings purportedly featuring Razon, the company’s chairman, as well as other high-ranking officials.
As stated by the firm, the fake content surfacing on social media wrongly depicts Razon endorsing investment chances.
The company stated, ‘These allegations are completely false. Neither Mr. Razon nor ICTSI have supported any such ventures.’
ICTSI stated that the fraudulent content appears credible and might encompass proposals that look genuine.
“ICTSI stresses that these are unauthorized and meant to deceive viewers,” the statement read.
ICTSI is advising everyone to take precautions when interacting with online material related to ICTSI or the Razon Group, as this can aid in preventing online scams.
Similarly, the public is advised to refrain from disclosing their personal or financial data to unknown entities and to inform the relevant platforms about any dubious content or impersonation efforts they encounter.
Fraudsters are leveraging technology as a tool and utilizing well-known business figures and organizations to carry out their unlawful investment scams.
In addition to Ang and Razon, other magnates like Manuel Villar Jr. have similarly fallen victim to involvement in scam operations.