SBI warns against deepfake videos promoting fake AI investment schemes
Deepfake videos circulating on social media falsely claim that State Bank of India has launched an AI-based investment platform promising high returns in collaboration with the Government of India and multinational corporations. SBI issued a public caution denying involvement in such schemes and advising customers to verify information through official channels.
What happened
Deepfake scam videos circulating on social media falsely claim that SBI, in collaboration with the Government of India and multinational corporations, has launched an AI-based investment platform offering unusually high returns.
Scammers are leveraging deepfake technology to impersonate public figures and senior officials, creating convincing but fake promotional content designed to manipulate viewers into believing the legitimacy of fraudulent investment schemes.
Reported impact
The fraudulent videos trick viewers into making financial commitments to fraudulent schemes by creating false narratives that falsely claim SBI's endorsement.
Index analysis
SBI has categorically denied any involvement in such schemes and clarified that it does not endorse any such schemes that promise unrealistic or unusually high returns.
Governance controls
SBI issued a Public Caution Notice advising customers and the public to verify information from SBI's official website, official social media handles or from any of the nearest branch, and not to engage with or fall prey to such deepfake videos.
Classification
Sources and evidence
Sources not yet published
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