In the age of reels, video calls, and voice notes, how do you know if the person you’re speaking to is really who they claim to be?
Now imagine this: You receive a WhatsApp video message from your portfolio manager. He looks familiar, sounds just like you remember, and urgently recommends a new investment promising 20% monthly returns. You trust him, and you act.
The next day, the real manager calls-he has no idea what you’re talking about.
You've just been deepfaked.
A deepfake is an AI-generated video or audio clip that mimics a person’s face, expressions, and voice with startling accuracy. Originally developed for entertainment and special effects, deepfakes are now being used by fraudsters to deceive investors and steal money.
In 2024, an MNC firm reported a deepfake scam that cost a multinational company over $25 million, when an employee transferred funds after receiving a fake video call from a “senior executive.” https://edition.cnn.com/2024/02/04/asia/deepfake-cfo-scam-hong-kong-intl-hnk
In India too, such threats are rising-CERT-In (India's cyber emergency response team) flagged deepfake fraud as an emerging risk in its 2024 security bulletin.
https://www.cert-in.org.in/s2cMainServlet?pageid=PUBVLNOTES02&VLCODE=CIAD-2024-0060
Scammers create fake personas-financial advisers, influencers, even regulators-to push victims into action. Here’s how they typically work:
Scrape public content: Videos, interviews, social media clips of known figures.
Clone the face/voice: Using free or low-cost AI tools.
Send messages/calls: Posing as a known person urging the victim to:
Invest urgently in a scheme or IPO
Share OTPs, bank details, or KYC documents
Click on malicious links that mimic genuine platforms
All of it seems credible-until it's too late.
A deepfake video of a respected financial influencer promoting a shady investment App
A voice note “from your adviser” asking for an OTP to update your SIP
A video call from someone impersonating a SEBI or RBI official, warning you of compliance issues and demanding immediate action
Even trained professionals have fallen for such tricks. What protects you is not experience, but awareness.
Protect yourself with this simple 7-point action plan:
Verify requests through a second channel. If someone asks for money or personal info, call them back on their customer support number.
Never share OTPs, passwords, or CVVs, even if the request comes from someone familiar.
Avoid clicking links sent via WhatsApp, SMS, or email. Always visit the official App or website directly.
Check if the adviser is SEBI registered or not before investing..
Question unrealistic returns. "20% guaranteed" isn't an opportunity-it's a trap.
Keep your digital footprint minimal- limit uploading your photos and videos in the public that can be misused to clone your identity.
Report suspicious messages to cybercrime.gov.in or your local cyber police.
Technology has made investing smarter-but it has also made the scams sharper. Deepfakes can now fool both our eyes and ears. But with a little caution, we can stay ahead.
So before you believe what you see or hear, remember:
Pause. Think. Verify.
Because your financial safety deserves more than blind trust.
Become an Atmanirbhar investor-stay informed, stay protected.
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