Mukesh Ambani deepfake video: Mumbai doctor falls prey to frauds, loses Rs 7 lakh in...

A 54-year-old Ayurveda practitioner from Andheri, Mumbai fell victim to a sophisticated scam involving a deepfake video featuring industrialist Mukesh Ambani. The scammers used the video to promote a fake share trading academy, resulting in Dr. KH Patil losing Rs 7.1 lakh in the fraudulent scheme.

In April, Dr. Patil came across the deepfake video on her Instagram feed. The video showed Mukesh Ambani endorsing the Rajiv Sharma Trade Group, promising high returns through their BCF Academy. Believing the endorsement to be genuine, Dr. Patil conducted an online search for the group and found that they claimed to have offices in London and at the Bandra Kurla Complex in Mumbai. This further convinced her of the group’s legitimacy.

Trusting the video and the supposed international presence of the academy, Dr. Patil decided to invest in May and June. Initially, her investments seemed profitable, with her account showing a significant profit of over Rs 30 lakh. However, when she attempted to withdraw the funds in July, her requests failed, revealing the scam.

Realizing she had been deceived, Dr. Patil reported the incident to the Oshiwara Police in Andheri. According to a report in the Times of India, Dr. Patil was duped between May 28 and June 10, transferring a total of Rs 7.1 lakh to 16 different bank accounts after being lured by the promise of high returns and Ambani’s endorsement.

The police have initiated an investigation, registering a case against unknown persons and scrutinizing the 16 bank accounts linked to the scam. They noted that there have been previous incidents involving deepfake videos of Ambani used to promote other fraudulent trading education programs.

The police have also observed a trend of cyber scammers exploiting social media platforms such as X (formerly Twitter), Facebook, and Instagram to lure unsuspecting investors. A similar scam surfaced after the pre-wedding function of Anant Ambani, where scammers used images from the event to direct people to fraudulent investment platforms.

This incident highlights the growing threat of deepfake technology and its potential to deceive people, underscoring the need for greater awareness and caution when encountering online investment opportunities.