deepfake technology in cybercrime

This week, high-stakes fraud incidents have highlighted the fragility of digital security across India. In Pune, a senior executive at Deutsche Bank India fell victim to a deepfake-driven cyber scam, losing over ₹1 crore.

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Bank Executive Tricked by AI-Generated Deepfake of CEO

A Vice President at Deutsche Bank India was deceived into transferring ₹1.08 crore after receiving a deepfake video call that impersonated the bank’s global CEO. Authorities suspect that the call was created using advanced AI technology and was followed by email instructions that appeared to originate from internal systems.

Believing the call to be genuine, the executive authorized the transaction to a third-party account, only to realize the fraud days later. 

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The Pune Police cyber cell has registered a case and is investigating whether the deepfake was produced domestically or by international syndicates. Meanwhile, the bank is conducting an internal audit to assess any lapses in verification procedures.

This incident marks one of the first publicly known cases in India where a corporate executive has been duped using synthetic media. Officials warn that this could set a troubling precedent for cybercrime involving AI-driven impersonation of C-suite leaders.