RBI warns against deepfakes showing Governor Das endorsing investment schemes
What's the story
The Reserve Bank of India (RBI) has issued a warning regarding the circulation of deepfake videos featuring its Governor, Shaktikanta Das. These videos falsely claim that the RBI supports or endorses various investment schemes, misleading the public into making potentially harmful financial decisions. The central bank's alert comes amid growing concerns about the misuse of technology in creating deceptive media that can undermine public trust in financial institutions.
Public alert
RBI urges public vigilance against deepfake scams
The RBI emphasized that these deepfake videos are not endorsed by any of its officials and that the central bank does not provide financial investment advice. The central bank advised against falling prey to schemes that misuse advanced technological tools like deepfakes, to mislead and defraud. This warning comes after a similar incident in July when the Bombay High Court directed social media intermediaries to act against deepfake videos of National Stock Exchange's MD and CEO giving stock recommendations.
Deepfake explained
Understanding deepfakes: A tool for misinformation
Deepfakes are synthetic media generated by artificial intelligence (AI) and machine learning techniques, particularly deep learning algorithms, to manipulate audio, video, or images. The term is a portmanteau of "deep learning" and "fake." It can be used to superimpose one person's face onto another's body in videos or photos. With AI advancing, it has become harder to tell real from manipulated content.