SBI warns users about deepfake videos promoting AI investment platform
What's the story
The State Bank of India (SBI) has issued a public cautionary notice, warning its customers and the general public about a rise in deepfake scam videos on social media. These fake videos falsely claim that SBI has collaborated with the Indian government and multinational corporations to launch an AI-based investment platform promising abnormally high returns. The bank categorically denies any involvement in such schemes.
Fraud tactics
Scammers use deepfake technology to create convincing content
Scammers are using advanced deepfake technology to impersonate public figures and senior officials, creating convincing promotional content for their fraudulent schemes. These videos manipulate viewers into believing the legitimacy of these schemes, tricking them into making financial commitments. SBI has strongly denied any association with such schemes on its official X (formerly Twitter) account.
Verification warning
SBI advises customers to verify information from official sources
SBI has advised its customers and the public to verify any information from the bank's official website, social media handles or nearest branch. The bank's statement also cautioned against engaging with or falling victim to such deepfake videos. This warning comes after a similar incident in January where PIB Fact Check had alerted users about a digitally altered fake video featuring Union Finance Minister promoting an investment platform for easy daily income.