Woman duped of ₹43.4 lakh by deepfake video of FM
A 57-year-old woman from East Bengaluru lost ₹43.4 lakh after falling for an online trading scam that used a deepfake video of Finance Minister Nirmala Sitharaman on Instagram.
Believing the video was genuine, she clicked a link, shared her details, and soon received a WhatsApp message from someone pretending to be with the company.
Bank froze her account for suspicious activity, revealing the scam
She was added to a WhatsApp group with over 100 people and guided by a fake customer service agent to download a bogus app called ACSTRADE.
Over about a month, she made 13 transfers—including money borrowed against gold jewelry—thinking she was earning profits.
When withdrawal attempts failed due to supposed loan conditions, her bank froze her account for suspicious activity, revealing the scam.
Police warn people to watch out for deepfake videos
Police have warned everyone to watch out for deepfake videos and shady investment schemes.