The State Bank of India (SBI) has issued an urgent warning about deepfake videos circulating on social media that falsely show bank officials promoting investment schemes, according to ciso.economictimes. These fake videos use advanced technology to impersonate public figures and senior officials, promising unrealistic high returns on investments. The scam has been active since January and targets people across various social media platforms to trick them into making fraudulent financial commitments.
ALERT – PUBLIC CAUTION NOTICE pic.twitter.com/uLUzNrGBua
— State Bank of India (@TheOfficialSBI) April 15, 2025
What Are Deepfakes?
Deepfakes are computer-made fake videos that use artificial intelligence to make it look like real people are saying or doing things they never actually did. Scammers use this technology to create videos that appear to show real bank officials talking about fake investment opportunities.
SBI’s Official Warning
SBI has clearly stated that neither the bank nor its top officials offer or support any investment schemes promising unusually high returns. The bank’s warning on X (formerly Twitter) cautions all customers to be careful about these manipulated videos.
How The Scam Works
The fraudulent videos falsely claim SBI is working with the government and multinational companies on special investment platforms. These videos look convincing but promote completely fake schemes designed to steal money from unsuspecting people.
Impact of Deepfakes in India
| Statistic | Figure |
|---|---|
| Indians who have seen deepfakes online | Over 75% |
| Indians affected by deepfake scams | 38% |
| Increase in deepfake cybercrime since 2019 | 550% |
| Projected financial losses by 2025 | ₹70,000 crore |
How To Protect Yourself
- Only trust information from official SBI channels
- Be suspicious of any investment promising unusually high returns
- Report deepfake videos to social media platforms immediately
- Remember that no legitimate bank will promote get-rich-quick schemes
The growing problem of deepfakes shows how scammers are using new technology to create more convincing frauds. According to the data, 56% of Indians want social media platforms to remove deepfake videos within 24 hours of receiving complaints.
SBI encourages everyone to verify any investment information directly through official bank websites or by visiting branch offices. Never trust videos alone, no matter how real they appear.
As deepfake technology becomes more advanced, being careful about what we believe online is more important than ever. Remember: if an investment opportunity sounds too good to be true, it almost certainly is.
