Deepfake Scams in Bengaluru Cost Victims Nearly 1 Crore as Fake Videos of Business Icons Mislead Investors

Bengaluru is reeling after reports of two residents collectively losing close to ₹95 lakh to elaborate deepfake scams, which exploited synthetic videos featuring renowned business leaders Infosys co-founder Narayana Murthy and Reliance Industries Chairperson Mukesh Ambani. These scams highlight the growing misuse of digital manipulation, as cybercriminals use fake videos to create a false sense of credibility. Local police are investigating the cases and working to track down those responsible for orchestrating the scams.

Fraudulent Trading Platforms Exploit Fake Videos of Business Icons

One case involves Veena, a resident of Banashankari, who was tricked by a fake promotional video that appeared to feature Narayana Murthy endorsing a high-return trading platform. Believing in the false endorsement, she followed a link, submitted her details, and was soon contacted by someone posing as an agent. This person encouraged her to make an initial investment, which seemed profitable. Buoyed by her initial return of ₹8,000 on an investment of ₹1.4 lakh, Veena invested a larger sum of ₹6.7 lakh but did not receive any returns thereafter.

The deception didn’t stop there. She later encountered a different ad on Instagram for a work-from-home opportunity. This scheme required her to rate an online shopping platform and promised regular earnings. Enticed, she invested a substantial sum of ₹67 lakh. While the platform displayed a small profit, her attempts to withdraw were met with demands for exorbitant taxes, after which all communication from the “company” ceased, leaving her financially stranded.

Similar Scam Leaves Retired Man Ashok Kumar Struggling

In a parallel incident, Ashok Kumar, a retired professional, came across a Facebook ad showing a fake video of Mukesh Ambani promoting another high-return trading platform. Trusting the purported endorsement, Kumar transferred a total of ₹19 lakh to accounts provided by fraudsters. However, when he attempted to reach out, he realized that all communication channels were blocked, and he was unable to retrieve his investment.

Warnings from Narayana Murthy and Cyber Experts Highlight Deepfake Dangers

Last year, Narayana Murthy publicly warned people about the misuse of his image by various online trading platforms claiming his endorsement. In a post, Murthy emphasized that he had no association with any such platforms and cautioned the public against falling for these fraudulent schemes. He explained that fake websites often use doctored videos and images to mislead viewers, some of which appear on cloned websites that mimic legitimate news outlets.

Murthy reiterated that he had never endorsed any automated trading platforms such as BTC AI Evex, British Bitcoin Profit, or Bit Lyte Sync, among others. His warning underscored the prevalence of digital deception and urged people to remain vigilant when encountering unsolicited investment opportunities, particularly those that seem “too good to be true.”

Cyber Police Step Up Investigations into Deepfake-Driven Cyber Scams

The CEN (Cyber Economic and Narcotics) police station in Bengaluru South has taken on these cases as part of a broader investigation into similar scams. With cybercrimes on the rise, officials are focused on tracing the origins of these fraudulent operations. Authorities urge the public to exercise caution when interacting with online ads and to verify the authenticity of promotional content, especially on social media platforms where such scams are increasingly common.

Digital Awareness Becomes Essential Amid Rising Online Frauds

This wave of deepfake scams has highlighted an urgent need for increased digital awareness and preventive measures. As technology enables more sophisticated manipulation, experts suggest that users should be cautious when viewing ads or videos of well-known personalities promoting investments or financial platforms. Recognizing that not all online content is authentic is crucial for protection in today’s digital landscape.

A Lesson in Digital Vigilance

These incidents in Bengaluru serve as a sobering reminder of the potential pitfalls of trusting online content without thorough verification. While authorities are working to curb cybercrimes, the best line of defense for the public remains awareness. By being cautious of misleading promotions, especially those that promise high returns, people can better protect themselves from falling victim to similar scams in the future.