SBI sounds alarm against videos featuring its top management: Why you should be cautious

The State Bank of India (SBI) on Monday alerted its customers and the public about deepfake videos being circulated on social media, featuring its top management and falsely claiming the launch or support of investment schemes.

The country’s largest state-owned lender clarified that neither the bank nor its top officials endorse or offer any such schemes that promise unrealistic or unusually high returns.

“SBI cautions all its customers and the general public that deepfake videos of its top management are being circulated on social media claiming launch of or support to some investment schemes,” the bank said in a public caution notice.

“These videos attempt to advise people to invest their money in such schemes through the use of technological tools,” the notice added.

SBI urged members of the public to exercise caution and avoid engaging with such fraudulent content.

“It has come to the notice of RBI that fake videos of the Governor are being circulated on 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,” the RBI had said in a statement.

RBI also reiterated that neither the central bank nor its officials endorse or promote any such investment products or schemes.

The issue highlights the growing threat of deepfakes—highly convincing, manipulated videos or audio generated using artificial intelligence (AI). By superimposing a person’s likeness onto another’s actions or words, these videos can create an illusion of authenticity that is difficult to detect.

In the financial world, deepfakes pose a unique risk as scammers use this technology to impersonate trusted figures and lure victims into fraudulent schemes.