Kerala woman loses Rs 49.2 lakh in AI video trading scam
A resident of Thamarassery was defrauded after watching a fake Facebook video of Union Finance Minister Nirmala Sitharaman.
A 45-year-old woman in Kozhikode, Kerala, allegedly lost Rs 49.2 lakh through an online trading fraud involving a fake video of Union Finance Minister Nirmala Sitharaman, according to Moneycontrol.
The Kozhikode Rural Cyber Crime Police registered a case on Wednesday after the victim, a resident of Maikkavu in Thamarassery, filed a complaint.
The woman reportedly saw a Facebook video using artificial intelligence (AI) to falsely show Sitharaman endorsing a scheme that promised high returns from online trading.
Following the instructions in the video, the complainant clicked a link and began making transfers to various accounts provided by the fraudsters.
Between July 15 and September 22 this year, she moved the total sum from her State Bank of India and Puthuppadi Service Cooperative Bank accounts.
The Press Information Bureau (PIB) Fact Check unit had previously flagged a similar AI-generated video on September 16, stating that the Finance Minister has not endorsed any such investment platform.
Police have registered the case under the Bharatiya Nyaya Sanhita (BNS) and the Information Technology (IT) Act. They are currently working to track and freeze the bank accounts used by the accused.