Deepfake video impersonates bank executive in fraud scheme
Fraudsters used generative AI to create a deepfake video impersonating the executive president of Banco Popular Dominicano, attempting to trick customers into depositing money on a fraudulent platform. The bank detected the scheme on 2 September 2025 and activated security protocols to remove the video and investigate.
What happened
On 2 September 2025, Banco Popular Dominicano detected a fraudulent video circulating on social media that used generative AI to impersonate the bank's executive president Christopher Paniagua by imitating his voice and gestures.
Fraudsters used the deepfake video to invite people to register on a fraudulent platform and deposit money in order to steal their funds.
Reported impact
The bank activated cybersecurity contingency protocols, alerted authorities, and sought to remove the fraudulent video and investigate its origin.
Governance controls
Banco Popular stated it activated security protocols immediately upon detection and reaffirmed its commitment to transparency and security for clients, shareholders and the public.
Classification
Sources and evidence
Sources not yet published
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