RBI Warns Public Against Deepfake Investment Scams

The RBI alerts citizens about fake deepfake videos circulating on social media featuring its top officials providing investment advice. These videos, leveraging AI technology, falsely claim RBI's endorsement of financial schemes. RBI disassociates itself from such activities, encouraging public caution against engaging such content.

The Reserve Bank of India (RBI) has issued a public warning regarding deepfake videos circulating on social media, featuring its high-ranking officials, including Governor Shaktikanta Das, offering financial advice. According to a statement released on Tuesday, these fabricated videos falsely suggest the RBI's endorsement or launch of various investment schemes.

The RBI reiterated that these videos, created using advanced technological tools, are designed to mislead individuals into investing in dubious schemes. The central bank clarified that its officials are neither involved in nor endorse any such financial activities, emphasizing the fraudulent nature of the circulated content.

Highlighting its stance, the RBI underscored that it does not provide specific financial investment advice. The public is firmly cautioned against engaging with or falling victim to deepfake videos on social media. Similar advisories have been issued by the National Stock Exchange, warning against AI-generated deceptive videos featuring business leaders giving investment tips.

(With inputs from agencies.)