Bengaluru Man Loses Rs 7.66 Lakh in Deepfake Investment Scam

A Bengaluru resident from Mahalakshmi Layout has allegedly lost Rs 7.66 lakh after falling for an online investment scheme promoted through deepfake videos featuring prominent public figures.

According to the complaint, the 39 year old man came across the videos on Facebook on July 10. The clips appeared to show Prime Minister Narendra Modi, Union Finance Minister Nirmala Sitharaman, Sudha Murty and Anant Ambani promoting an online investment opportunity.

Believing the videos were genuine, the man followed a link provided with the post and initially transferred Rs 22,000 to begin investing. He was subsequently contacted by people claiming to represent a forex trading company.

The callers reportedly used five different mobile numbers carrying the United Kingdom country code. They allegedly introduced themselves as representatives of a company called One Two Markets and told the victim that forex trading could generate substantial returns.

The alleged fraud then moved to the next stage. The callers reportedly created a forex account in the victims name and showed information suggesting that his investment was generating profits.

Between July 10 and July 22, the man allegedly transferred about Rs 7.6 lakh through several transactions to bank accounts provided by the callers. He believed the money was being invested and that the value of his account was increasing.

The situation changed when he tried to withdraw the money.

Instead of allowing the withdrawal, the callers allegedly asked him to invest additional funds. This raised doubts about the transaction and eventually led the man to realise that he may have been dealing with fraudsters.

He then approached the police and reported the incident. An FIR was registered on September 19, and the investigation is continuing.

The case highlights how criminals are increasingly using manipulated videos of well known personalities to make fraudulent investment offers appear credible. Similar deepfake based investment scams have previously been reported in Bengaluru, where victims were shown fabricated videos of prominent business figures appearing to endorse trading platforms.

Deepfake technology can make a manipulated video appear convincing by digitally altering a persons face, voice or appearance. When such material is combined with promises of high investment returns, it can create an impression that the opportunity has been publicly endorsed.

In this case, the alleged fraud began with a social media advertisement rather than a direct approach from a known financial institution. After the initial payment, the victim was reportedly moved into a more direct communication channel through phone calls.

The use of multiple phone numbers also formed part of the alleged operation. The callers reportedly maintained contact while encouraging the victim to continue putting money into the trading account.

The case also shows how an apparent profit on an online investment account can be used to build confidence. According to the complaint, the victim believed that his investment was producing returns before he attempted to withdraw the funds.

The demand for additional money at the withdrawal stage became a major warning sign. Instead of receiving the amount he believed was available in his account, the victim was allegedly told to make another payment.

Investment fraud commonly relies on promises of unusually high returns and can use social media advertisements, fake platforms and misleading communications to establish trust. Financial safety guidance recommends checking whether an investment opportunity and the people offering it can be independently verified before transferring money.

The Bengaluru case is another reminder that videos appearing to show famous personalities should not automatically be treated as genuine endorsements. A familiar face in an online advertisement does not establish that the person actually supports the investment or that the platform is legitimate.

The investigation will now focus on identifying the people who allegedly operated the scheme, tracing the bank accounts used to receive the money and examining the digital trail connected with the Facebook post and phone numbers.

For the victim, what appeared to be an opportunity to make money through forex trading instead resulted in a substantial financial loss. The case demonstrates how quickly an online interaction can develop into a major financial fraud when manipulated content is used to create trust.

Police have registered the case and further investigation is underway. The allegations remain subject to investigation and legal proceedings.