How AI-powered investment scams target Filipinos
MANILA, Philippines — Fake news, real losses. A promise of extra income led a senior citizen to lose P11,000 after encountering what appeared to be a legitimate online article bearing the name and branding of INQUIRER.net.
The fake article, which the 77-year-old woman saw on Facebook in mid-February, claimed that a small investment of around P6,000 could grow into hundreds of thousands of pesos through an online investment platform.
Curious and hopeful, she clicked the link. Soon, the phone calls began.
“I wanted to have extra income,” the senior citizen told INQUIRER.net in a phone interview on Friday.
Her experience reflects a growing wave of online scams that use artificial intelligence (AI), fake news, and impersonation tactics to lure victims into fraudulent investment schemes.
The rise of AI tools has also made scams increasingly convincing, allowing fraudsters to imitate trusted personalities, companies, and media organizations.
READ: AI is fueling a new wave of fraud–Is the Philippines ready?
INQUIRER.net has frequently warned the public against fake content circulating on social media.
It has likewise advised users to follow only its official URL, inquirer.net, and its verified social media pages with the handle @inquirerdotnet.
Recently, the INQUIRER team was again made aware of an AI-generated video featuring the same investment scam circulating on Instagram.
INQUIRER again issued a warning on this.
According to the victim, one of the callers introduced himself as “JC,” supposedly based in the United Kingdom, and claimed he would help her determine where her money could earn the most profit.
The victim said she was encouraged to invest around P12,000 after being assured that the platform would generate earnings on her behalf.
“I said, why is it so much?” the senior citizen asked.
She said the scammers appeared organized, with two other individuals introducing themselves as James Montenegro and Miles Marquez, who were supposedly business advisers and support agents.
The victim, who relies on a pension alone, said she was eventually convinced to invest P11,000, an amount she borrowed from her sister.
“They guided me step-by-step,” she said, adding that she struggled to fully understand some of the instructions due to her unfamiliarity with technology, and thus asked her niece to guide her.
“I’m 77 years old,” she added.
At one point, she was informed by JC that her profits had grown to $275, and after a few days, by Miles, to $400.
“I said, well that’s good. I asked if it was possible to leave the more than P11,000 I had invested and just withdraw the $400 first,” she said.
She said Miles offered to help her withdraw the said amount, with a supposed “three to five days notice.”
“They said, I will call you tomorrow, then she never called again,” the victim lamented.
Reporting to the police
The Philippine National Police Anti-Cybercrime Group (PNP-ACG) urged victims to head to its office to file complaints.
READ: AI-assisted investment scams
When asked how to go about such situations, the PNP-ACG told INQUIRER in an email, “You may report to our office with all the necessary documents relevant to your complaint, such as screenshots of transaction/conversation and your valid IDs.”
The agency added that the public may also visit its website (https://acg.pnp.gov.ph/contact-us/) to locate the nearest anti-cybercrime office or contact its complaint center for assistance through their numbers, 09688674302 or 87230401 local 7491.
The 77-year-old victim plans on reporting to the police what happened as soon as she heads back to her hometown.
Thankfully, she has all the scammers’ phone numbers listed in a notebook, along with their names and what they discussed in each conversation.
For safety, the victim’s identity was withheld due to security and privacy concerns. /mcm
