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A businessman from Naduvannur in Kerala’s Kozhikode district has been cheated of ₹1.45 crore through a cyber fraud involving a deepfake video of Union Finance Minister Nirmala Sitharaman. The victim was lured into a high-return investment scheme promoted via an artificial intelligence-generated video circulated on Facebook, which promised substantial profits within a short period. Convinced by the fabricated endorsement, the businessman transferred the money in 30 separate instalments to bank accounts specified by the fraudsters.
Police Launch Probe into AI-Generated Video Scam
According to police officials, the accused used artificial intelligence tools to create a manipulated video mimicking the Union Finance Minister so that viewers would believe a credible government figure was endorsing the investment scheme. Exploiting this perceived authenticity, the scammers promised extraordinary returns, prompting the victim to remit ₹1.45 crore over multiple transactions.
When the promised returns failed to materialise, the businessman suspected fraud and approached the authorities. Based on his complaint, the Kozhikode Rural Cyber Police registered a case and initiated an investigation. Officers are currently working to identify who created the video, trace the social media accounts used to circulate it, and track the bank accounts that received the funds. The role of individuals who directly contacted the businessman to pitch the scheme is also under scrutiny.
Similar Deepfake Fraud Reported Earlier in Vadakara
The Naduvannur incident follows closely on the heels of another similar cybercrime case reported in Kerala. In Vadakara, a couple lost approximately ₹3 lakh after being targeted through a fabricated deepfake video of the Union Finance Minister. Investigators noted that the modus operandi in both cases appears nearly identical, with fraudsters replicating the minister’s face and voice to disseminate misleading investment claims on social media platforms.
Deepfake technology enables criminals to replicate a real person’s facial expressions, voice, and mannerisms, making it difficult for ordinary users to distinguish manipulated content from authentic footage. Cybercriminals are increasingly misusing the likeness of government officials, celebrities, industrialists, and financial experts to promote bogus investment schemes, leading victims to invest their savings without conducting proper verification.
Advisories Urge Vigilance Against Unverified Investment Claims
Cybersecurity experts have emphasised that a social media video showing a minister, official, or prominent business figure promoting an investment scheme is not proof of its legitimacy. With AI tools making such fabrications easier to produce, fraudsters frequently rely on promises of high profits, limited-time offers, and rapid returns, often backed by fake websites, mobile applications, and fabricated customer reviews.
Authorities have advised citizens to remain cautious of unverified financial schemes and deepfake advertisements circulating online. Officials stressed the importance of independently verifying the credentials and regulatory registration of any company or scheme before investing, warning against making financial decisions based solely on a prominent person’s video, photograph, or voice. The Kozhikode case underscores how cyber fraud has evolved beyond fake calls and phishing links to convincing AI-generated videos, with police continuing efforts to uncover the network behind the scam and trace the trail of the siphoned funds.
