A concerning trend of AI-generated videos misusing the likeness of Finance Minister Nirmala Sitharaman to promote fraudulent investment schemes has been identified by the Press Information Bureau (PIB) Fact Check team. These deepfake videos, circulated widely on social media platforms, falsely depict the Finance Minister endorsing various investment platforms promising unusually high returns.
The PIB Fact Check has clarified that these videos are completely fabricated and digitally altered to mislead the public. Nirmala Sitharaman has not endorsed any such investment schemes, and the videos are a scam designed to deceive individuals into investing in fraudulent platforms.
Several versions of these deepfake videos have surfaced. In one instance, Sitharaman is purportedly seen endorsing an investment platform named QuantumAI, falsely suggesting that users can earn up to ₹20 lakh per month by investing just ₹21,000. Another video claims that an investment of ₹22,000 can generate ₹60,000 in a day and approximately ₹10 lakh per month through a smart trading platform. Yet another video shows Sitharaman allegedly endorsing a platform called "Tickertape," falsely claiming it is backed by the Government of India and offering monthly returns of ₹10 lakh on an investment of ₹21,000.
PTI Fact Check also investigated a video where Sitharaman appears to endorse a trading platform during a conversation with PTI's CEO and Editor-in-Chief, Vijay Joshi. In this video, Sitharaman purportedly claims that all similar videos are fake except for the one in question, which includes a link to a so-called "authentic" platform. However, PTI's investigation revealed that this video was also created using generative AI to share false claims.
Analysis of these videos using AI-based tools has confirmed that the audio has been edited and superimposed. In some cases, the visuals have been taken from legitimate interviews or speeches given by the Finance Minister and then manipulated with AI-generated voiceovers and scripted text. For example, one video used footage from an interview Sitharaman gave to NDTV's Sanjay Pugalia, but the audio was altered to promote QuantumAI. Similarly, a video was created using a clip from a TV channel, falsely depicting Sitharaman as endorsing a government investment scheme promising ₹15 lakh within the first month for an investment of ₹21,000. In another instance, a video used footage from a press conference regarding the government's relief efforts for floods in Tamil Nadu.
The PIB and other fact-checking organizations have urged the public to exercise caution and verify any such claims through official government channels. They advise against clicking on unknown investment links circulating on social media and to be wary of schemes promising unrealistically high returns. It is crucial to seek expert advice or official confirmation from the government before investing in any products.
These incidents highlight the increasing sophistication and misuse of deepfake technology to spread misinformation and lure unsuspecting investors into scams. The creation and dissemination of these fake videos can have serious consequences, potentially causing significant financial losses for individuals who fall victim to these fraudulent schemes. Authorities are working to combat the spread of deepfakes and to educate the public about how to identify and avoid them.
