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Manila, Philippines - Senator Paolo "Bam" Aquino has issued a strong warning against a deceptive deepfake video circulating online, falsely portraying him as endorsing a dubious investment platform. The video, which promises unrealistically high returns, has sparked concerns among the public, prompting the Senator to swiftly denounce its authenticity.

In a statement released on Wednesday, July 9, Senator Aquino categorically denied appearing in the video. He emphasized that the clip is a product of sophisticated artificial intelligence (AI) technology, specifically a “deepfake,” designed to mislead and defraud unsuspecting individuals. The platform being promoted allegedly offers returns of P175,000, a claim the Senator deems entirely false and indicative of a potential scam.

“I want to be clear: I have not endorsed any investment platform offering such high returns,” Senator Aquino stated. “This deepfake video is a malicious attempt to deceive the public and exploit people’s trust. Please do not fall for this scam.”

The Rise of Deepfakes and Online Scams

The emergence of deepfake technology poses a growing threat to online security and public trust. Deepfakes are AI-generated videos or audio recordings that convincingly mimic a person's appearance and voice, making it incredibly difficult to distinguish them from genuine content. This technology is increasingly being exploited by scammers to create convincing fake endorsements and spread disinformation.

This particular incident highlights the urgency of educating the public about deepfakes and the importance of verifying information before making financial decisions. Senator Aquino’s warning serves as a crucial reminder to exercise caution and skepticism when encountering online promotions, especially those promising unusually high returns.

Protecting Yourself from Investment Scams

Here are some tips to protect yourself from falling victim to investment scams, particularly those leveraging deepfake technology:

• Verify the Source: Always verify the authenticity of any endorsement or promotion, especially if it seems too good to be true. Cross-reference information with official sources.
• Be Wary of High Returns: Legitimate investments rarely offer guaranteed or excessively high returns.
• Research the Platform: Thoroughly research any investment platform before committing any funds. Check for proper licensing and regulatory compliance.
• Consult a Financial Advisor: Seek advice from a qualified financial advisor before making any investment decisions.
• Report Suspicious Activity: If you suspect a scam, report it to the appropriate authorities, such as the Securities and Exchange Commission (SEC) in the Philippines.

Senator Aquino’s proactive response to this deepfake scam underscores the importance of vigilance and critical thinking in the digital age. By raising awareness and providing guidance, he aims to protect Filipino citizens from falling prey to online deception and financial exploitation.

The Senator's office encourages the public to share this information with their friends and family to help prevent the spread of this fraudulent scheme. They also urge individuals who may have already been affected by this scam to report their experiences to the relevant authorities.