Retired Army officer loses ₹1 crore to deepfake investment scam using AI-generated Modi and Sitharaman videos
Summary
A retired Army officer in Pune lost over ₹1 crore to a deepfake investment scam involving AI-generated videos of Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman. The scam, which occurred over a month, used fake forex trading app visuals to lure the victim, who initially invested ₹22,000 and continued investing as he saw fabricated profits. Scammers later demanded additional fees for withdrawals, prompting the officer to realize the scam. Cybercrime officials in Pune noted that similar deepfakes now feature other prominent figures like Mukesh Ambani and Narayana Murthy to deceive investors. The incident highlights the growing use of deepfake technology in financial fraud.
Incident Details
Sources
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