The Press Information Bureau’s (PIB) Fact Check team has uncovered a fraudulent video that uses deepfake technology to mislead people.
The clip falsely shows Union Finance Minister Nirmala Sitharaman endorsing an investment scheme.
The video promises outrageous returns, ₹60,000 in a single day or as much as ₹15 lakh a month from an initial deposit of ₹25,000.
To make it look official, the creators added the Ashoka Pillar and other government symbols. Many viewers could mistake it for a genuine government-backed plan.
According to PIB, no such validation is in place. Officials have alerted the public not to be misled by these assertions and urged them to authenticate facts through reliable state platforms.
This is not an isolated case. Recently, a retired individual in India lost ₹40,000 after trusting another deepfake video that promoted a fake financial platform.
Such incidents show how criminals are weaponising artificial intelligence to exploit public trust.
Experts say these scams are part of a wider network. Fraudulent platforms often change their names and branding to avoid detection, while continuing to lure victims with the same promise of ‘easy money’.
The Financial Markets Authority has already flagged this pattern and urged caution.
The problem is not limited to India. In Hong Kong, fraudsters deployed AI-crafted videos to deceive a global corporation into wiring almost $25 million. The worldwide rise of such schemes shows how advanced and threatening deepfake scams have grown.
Cybersecurity specialists are now pushing for stronger awareness campaigns and advanced detection tools.
Platforms like Deepware.ai can scan for synthetic edits, but even these tools face challenges as deepfake technology becomes more refined.
The fake video of the Finance Minister is a stark reminder; if an investment scheme sounds too good to be true, it almost certainly is.
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