A Bengaluru senior citizen lost ₹6.88 lakh after cybercriminals allegedly used an AI-generated deepfake video of Finance Minister Nirmala Sitharaman to promote a fake investment scheme. The victim was lured through Facebook and WhatsApp before transferring money to fraudsters.
A Bengaluru senior citizen lost ₹6.88 lakh after cybercriminals allegedly used an AI-generated deepfake video featuring the face and voice of Union Finance Minister Nirmala Sitharaman to carry out an investment scam. The fraudsters reportedly circulated a fake video promoting a bogus investment scheme and convinced the victim that it was an official government-backed opportunity. The 66-year-old resident of Narayanapura later approached the Bengaluru North-East Division Cyber Crime (CEN) police, who registered a case against unknown accused persons and have begun an investigation.
Fake Investment Scheme Shared Through Facebook
According to the complaint, the fraudsters circulated a deepfake video on Facebook a few months ago, making it appear as though Finance Minister Nirmala Sitharaman was announcing a new investment scheme.
The video allegedly claimed that the scheme was a joint initiative of the Central Government and the State Bank of India (SBI), promising high returns within a short period.
Believing the video to be genuine, the victim clicked on a link shared in the post and was directed to a website where he entered his KYC details and other personal and banking information.
Fraudsters Contact Victim Through WhatsApp
After obtaining the victim’s details, the fraudsters allegedly contacted him through WhatsApp using a number with a United Kingdom country code (+44).
They initially convinced him to invest ₹22,000. Later, they allegedly promised that an investment of more than ₹6 lakh would generate returns of ₹15 lakh within 10 days.
The victim reportedly trusted the scheme because the deepfake video appeared to show the Finance Minister endorsing the investment opportunity.
Victim Loses ₹6.88 Lakh In Multiple Transactions
Between March and June, the victim transferred a total of ₹6.88 lakh in several instalments to different bank accounts provided by the fraudsters.
However, after waiting for months, he neither received the promised returns nor recovered his invested money. He later became suspicious, discussed the matter with acquaintances and realised that he had fallen victim to a cyber fraud.
The victim subsequently approached the police and filed a complaint.
Police Warn Public Against AI-Generated Deepfake Scams
A senior police officer investigating the case warned citizens about the growing misuse of artificial intelligence by cybercriminals.
The officer said that fraudsters are increasingly using AI tools to clone the faces and voices of politicians, RBI officials, film personalities and other well-known individuals to create convincing deepfake videos.
Police have advised people not to trust investment advertisements on social media without verifying their authenticity. Citizens have also been urged to invest only through legitimate platforms and SEBI-registered stock market firms to avoid falling victim to online fraud.