Philippine Central Bank Warns of AI-Driven Crypto Scams — Governor Denies Endorsing Cryptocurrency Projects

Philippine Central Bank Warns of AI-Driven Crypto Scams — Governor Denies Endorsing Cryptocurrency Projects

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has cautioned the public against scams involving AI-manipulated videos and audios, which are used to spread false information, particularly about cryptocurrency investments. The BSP emphasizes that Governor Eli M. Remolona Jr. does not endorse the purported cryptocurrency project “Tesler Code” or any other cryptocurrency investments. Misrepresenting the BSP or its officials is a punishable offense. To avoid falling victim to these scams, the BSP advises the public to be cautious, avoid sharing personal information with unverified entities, and verify the legitimacy of communications from supposed BSP representatives.

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19.07.2024

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