RBI warns investors against these videos circulating online

The Reserve Bank of India (RBI) has issued an advisory warning users about the circulation of

deepfake videos

featuring its top officials. These deepfake videos featuring RBI governor

Shaktikanta Das

are doing the rounds on the internet. Created using advanced AI technology to create convincing false visuals, these are reportedly being used to spread misinformation or mislead the public about support to some investment schemes by the RBI.
The central bank urges citizens to stay vigilant, verify information through official sources, and cautions them against making investment choices based on these videos. In its statement dated November 19, RBI says that none of the officials were involved in or supported any of the claims made in the videos.

Here’s what RBI said in the statement

“It has come to the notice of Reserve Bank of India that fake videos of the governor are being circulated in social media that claim launch of or support to some investment schemes by the RBI. These videos attempt to advise people to invest their money in such schemes, through use of technological tools. RBI clarifies that its officials are not involved in or support any such activities and these videos are fake,” the central bank said.

“It does not give such financial investment advice and the investors are “cautioned against engaging with and falling prey to such deepfake videos”, the RBI said.
This is not the first incident when deep fake videos of top officials are used by scammers to promote/support investment schemes. In a similar case in July, the Bombay High Court directed social media platforms to take action against deepfake videos featuring the National Stock Exchange’s MD and CEO, where he appeared to be giving stock recommendations.