A 57-year-old woman in Bengaluru was reportedly cheated of ₹3.75 crore (approximately $450,000 USD) after being deceived by a deepfake video featuring Sadhguru, an Indian spiritual leader. The incident, which took place between February 25 and April 23, highlights the increasing sophistication and danger of AI-driven financial fraud.
The woman, identified as Sneha (name changed), encountered the deepfake video on social media. The video depicted Sadhguru promoting a stock-trading platform and suggesting that individuals could improve their finances with an investment of just $250. Unaware of deepfake technology and believing the video to be genuine, Sneha clicked on a link in the video, which led her to a page requesting personal information such as her name, email, and phone number.
Subsequently, she was contacted by individuals identifying themselves as representatives of a firm called "Mirrox". These individuals, communicating through WhatsApp and Zoom, gained Sneha's trust by sharing investment and profit details and posting screenshots of amounts credited to their accounts. They guided her through the process of trading, and she began investing money. The fraudsters directed her to websites such as info@mirrox.com, support@mirrox.com and statement@mirrox.com and asked her to download the Mirrox app.
The scam unraveled when the fraudsters demanded additional fees for withdrawals, after which they disappeared. Realizing she had been duped, Sneha filed a complaint with the police. The police are working with banks to freeze the suspect accounts.
This incident is part of a growing trend of deepfake-enabled financial scams in India. Cybercriminals are increasingly using AI to create realistic-sounding and looking videos and audio clips to impersonate trusted individuals and manipulate victims into authorizing financial transactions. These scams exploit the trust that people place in public figures, making them particularly compelling and dangerous.
In response to the rise of deepfake fraud, several measures are being taken. Innovators are developing AI-based tools to detect synthetic media. Financial institutions are adopting video verification processes to prevent deepfake-based KYC (Know Your Customer) fraud. Experts recommend verifying identities through video calls and enabling two-factor authentication on messaging apps. Public awareness campaigns are also crucial to educate people about the risks of deepfakes and how to identify them.
This incident serves as a stark reminder of the need for vigilance and caution in the digital age. As AI technology continues to advance, it is essential to be aware of the potential for misuse and to take steps to protect oneself from falling victim to these sophisticated scams.
