Romania to pass deepfake law after central bank chief shown hawking investment scheme

Romania to pass deepfake law after central bank chief shown hawking investment scheme
Mugur Isarescu, governor of the National Bank of Romania (pictured), is among the prominent Romanians whose images and voices have been used without their consent to promote sketchy investment products.
By Iulian Ernst in Bucharest February 6, 2024

Romania is preparing to pass a law setting new rules for the use of deepfake technology after dozens of fake videos in which famous people appear to be presenting get-rich-quick schemes have flooded the internet targeting Romanian clients.

The government wants the law passed before the autumn, when Romania is due to hold general and presidential elections. 

The Romanian parliament is going to pass the Deepfake Law in the coming weeks, according to ProTV.

The law will force those who use deepfake technology for artistic purposes to warn that the images and information are not real. Otherwise, they risk fines of up to RON200,000 (€40,000).

"Especially, in the context of the elections, this law is necessary. Recently, more and more such situations have appeared in social networks. Normally, those entities that promote such content can be held accountable, explained Minister of Research, Innovation and Digitisation Bogdan Ivan in December.

Among the videos shared on the internet is one using the image of National Bank of Romania (BNR) governor Mugur Isarescu.

Romania’s central bank reacted, warning of the deepfake posts involving Isarescu, fraudulently using his image and voice to convince the public to make financial investments on a non-existent platform.

The central bank warned that it does not make investment recommendations and proposals.

“If you have followed such false ads, immediately report these situations to the competent authorities,” the statement also says.