News

Banking Technology

Staff Reporter

, India

Published:

49 minutes ago

Mumbai, India (Photo by Nishith Parikh via Unsplash. Apart from cropping, no other edits were made).

India’s central bank warns against deepfake videos involving governor

The videos claim that its governor supports investment schemes.

The Reserve Bank of India (RBI) warned against deepfake videos involving the governor that claim to launch or support investment schemes.

The central bank said that its officials “are not involved in or support any such activities and these videos are fake.”

“RBI does not give any such financial investment advice,” the central bank said in a statement.

The rise of AI has driven deepfake fraud to rise fifteen times across APAC, according to a recent interview with SumSub.

In 2022, two out of three cyber security professionals reportedly saw malicious deepfakes used as part of a strike against businesses– a 13% increase from the previous year, the Bank of America (BofA) said in a separate report, using data from VMWare.

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Reserve Bank of India

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