Bengaluru: A 66-year-old retiree from Bengaluru was allegedly cheated of ₹6.88 lakh after being lured into investing in a fake government scheme promoted through a deepfake video falsely depicting Union Finance Minister Nirmala Sitharaman.
The victim, a resident of Narayanapura, reportedly came across the video on Facebook, where the Finance Minister appeared to endorse an investment platform purportedly developed by the Ministry of Finance in association with the State Bank of India (SBI).
The video falsely claimed that the scheme would help citizens earn a reliable supplementary income and suggested that participation was limited. It also claimed senior citizens could earn attractive returns by investing ₹22,000.
Fraudsters promised ₹15 lakh return
According to the FIR, the retiree clicked on the link attached to the video and entered his KYC and personal details on a website that falsely appeared to be affiliated with the Central government.
Soon afterwards, he received a WhatsApp call from an unknown number with the +44 (UK) country code. The caller allegedly convinced him that investing more than ₹6 lakh, instead of ₹22,000, would fetch a return of ₹15 lakh within 10 days.
Believing the claims, the retiree transferred ₹6.88 lakh to the fraudsters in multiple transactions between March and June.
Police launch investigation
The victim realised he had been duped after the promised returns never materialised and subsequently approached the police.
The Northeast Cybercrime Police Station has registered a case and launched an investigation into the fraud.
Police have once again urged the public to remain cautious of investment offers promoted through social media, especially those featuring deepfake videos of public figures. Citizens are advised to verify the authenticity of investment schemes through official government websites and avoid sharing personal or banking details through unverified links.