02/10/2025
A woman in Mangaluru lost Rs 9.10 lakh after falling prey to an elaborate scam powered by AI-generated deepfake videos. The fraudulent clips, featuring Finance Minister Nirmala Sitharaman and Sudha Murty, promised government-backed investment schemes with guaranteed doubled returns. Persuaded by the seemingly authentic endorsements, the victim registered through a link in the Facebook video and was swiftly approached by scammers on WhatsApp, who coaxed her into making a series of payments totaling over Rs 9 lakh.
This incident marks a disturbing trend in India’s cybercrime landscape, where criminals are routinely leveraging deepfake technology to impersonate high-profile personalities and trick citizens into investing in nonexistent schemes. Cases in Bengaluru and across Karnataka show similar patterns, with victims targeted via convincing videos of well-known figures like spiritual leader Sadhguru and even Donald Trump. Industry analysts estimate nationwide losses due to AI-powered investment fraud could reach Rs 20,000 crore in 2025, prompting tech giants like Google to crack down on millions of scam advertisements.
Authorities and cybersecurity agencies are sounding the alarm, urging the public to be skeptical of investment offers encountered online and to verify any celebrity endorsements independently. As the sophistication of these scams increases, experts stress the importance of digital literacy and caution, warning that the human and financial costs will continue to rise unless citizens adapt to the threat posed by deepfake-driven cybercrime.