BSP warns public vs fake online investment scams

The Bangko Sentral ng Pilipinas (BSP) has warned the public, including Bicolanos, against fake online investment advertisements that use the names and images of government officials, business personalities, and financial experts to lure victims into fraudulent schemes.

The warning came after a fake social media post circulated online claiming that BSP Governor Eli Remolona Jr. appeared in an interview on ANC Headstart together with financial coach Chinkee Tan to endorse an investment program.

According to the BSP, the interview never happened and the image used in the post was generated using artificial intelligence (AI).

"There was no interview. The image used in the post was AI-generated. The BSP does not have any investment program," the central bank said in an advisory.

The BSP urged the public not to share the fake post and to be cautious of online content that falsely uses the names and images of government agencies and officials.

Local authorities reminded residents that scammers often target ordinary workers, overseas Filipino workers, senior citizens, and small business owners by promising unusually high returns on investments.

The public is advised to be suspicious of investment offers that guarantee quick profits, require immediate deposits, or claim endorsement by government officials and celebrities.

Before investing, individuals should verify information through official government websites and communication channels.

Anyone who receives suspicious messages or advertisements may contact the BSP through (+632) 8811-1277, 8811-1BSP, or email bspmail@bsp.gov.ph for verification.

Authorities continue to remind the public that if an investment offer sounds too good to be true, it is likely a scam.