Client Advisory – Protect Yourself from Deepfake Impersonation Fraud

We would like to remind all customers to stay alert against deepfake enabled scams involving fake investment opportunities, stock trading tips, and impersonation of Phillip Nova representatives.

Deepfakes are AI generated or manipulated images, videos, and audio that may look or sound like a real person. Scammers may use deepfake technology to impersonate Phillip Nova representatives, including our senior management, licensed representatives, account managers, customer service staff, or other authorised personnel, to gain your trust.

To help detect deepfake scams, the Cyber Security Agency of Singapore recommends the 3A approach:

1. Assess the message
Check whether the message is expected, whether the source is trustworthy, and whether the request is unusual. Be extra cautious if the message creates urgency, promises returns that sound too good to be true, or asks you to take unsafe action.

2. Analyse the audio or visual details
Look out for signs such as poor lip sync, unnatural facial movement, unusual blinking, inconsistent lighting, distorted background, robotic voice, or audio that does not match the video properly.

3. Authenticate through trusted sources
Always verify suspicious requests through official channels by contacting us directly using our official website, official helpdesk, or official social media.

Important reminders:

1. We will never ask you to share your password or OTP.
2. We will never ask you to transfer funds to an unknown third party bank account.
3. We will never guarantee investment returns, nor pressure you to invest immediately.
4. Always verify trading instructions, fund transfer requests, or account related requests through our official channels.

For more information, you may refer to the Cyber Security Agency of Singapore advisory on detecting and responding to deepfake scams.