Two high-stakes frauds, one corporate, one academic, have exposed the fragility of digital and institutional security across India this week. In Pune, a senior executive at Deutsche Bank India lost over ₹1 crore in a deepfake-driven cyber scam. Simultaneously, the Enforcement Directorate uncovered a massive cash haul linked to a “seat blocking” racket in Karnataka’s higher education sector.
Bank Executive Duped by AI-Generated Deepfake of CEO
A Vice President at Deutsche Bank India was conned into transferring ₹1.08 crore after receiving a deepfake video call that impersonated the German bank’s global CEO. The call, which authorities believe was generated using advanced AI technology, was followed by email instructions that appeared to come from internal systems.
Convinced of the call’s authenticity, the executive authorized the transaction to a third-party account, only to discover the fraud days later. Pune Police cyber cell has registered a case and is investigating whether the deepfake originated domestically or through international syndicates. The bank is conducting an internal audit to evaluate lapses in verification procedures.
This incident marks one of India’s first publicly known cases of a corporate executive being duped using synthetic media. Officials warn that this could set a dangerous precedent in cybercrime involving AI-driven impersonation of C-suite leaders.
ED Raids Colleges, Uncovers ₹27.2 Crore in Seat Sale Scam
In a parallel development, the Enforcement Directorate (ED) seized ₹27.2 crore in cash during coordinated raids at three private engineering colleges in Karnataka. The searches, which took place over two days, uncovered a “seat blocking” scheme where managements allegedly booked and resold admission seats to the highest bidders — often bypassing merit and reservation norms.
The ED has initiated proceedings under the Prevention of Money Laundering Act (PMLA), suspecting a wider network involving college authorities and intermediaries. The raids covered campuses in Bengaluru and Davanagere, with authorities recovering unaccounted cash from safes and hidden compartments.
Officials believe the scam undermines transparency in the education system and may implicate consultancy firms operating pan-India. More interrogations and arrests are expected in the coming weeks.
About the Author – Anirudh Mittal is a B.Sc. LL.B. (Hons.) student at National Forensic Sciences University, Gandhinagar, with a keen interest in corporate law and tech-driven legal change.
