The Press Information Bureau has flagged a fraudulent social media advertisement featuring an AI-generated video of Finance Minister Nirmala Sitharaman. The scam falsely promises high weekly returns on small deposits to lure unsuspecting investors. The government has confirmed no such scheme exists and urges the public to verify all investment platforms via official regulatory channels.
The Press Information Bureau (PIB) has issued a public warning regarding a sophisticated financial fraud campaign circulating on social media platforms like Facebook. Scammers are using artificial intelligence (AI) to create deepfake videos of Union Finance Minister Nirmala Sitharaman, falsely depicting her as endorsing a dubious investment scheme.
The fraudulent advertisements promise investors unrealistic financial returns, claiming a weekly income of ₹5.5 lakh from an initial investment of only ₹22,000. These figures are designed to lure individuals into transferring money to unauthorized platforms. The government has unequivocally clarified that neither the Finance Minister nor any official body is associated with, promotes, or authorizes these schemes.
This incident highlights the rising danger of technology being misused to lend credibility to financial fraud. By using the voice and image of prominent public figures, scammers create a sense of false legitimacy, making it difficult for individuals to distinguish between genuine government initiatives and criminal activity. Experts suggest that such scams often aim to steal not only money but also sensitive personal and banking information from victims.
For investors, the most critical defense is to recognize the red flags associated with such fraudulent offers. Any investment opportunity that guarantees fixed, astronomical returns within a short timeframe, or claims to be endorsed by high-ranking government officials via social media ads, should be treated with extreme suspicion. Real investment markets, including stocks, mutual funds, and government bonds, do not function on the basis of guaranteed, outsized weekly returns, and regulators strictly prohibit such marketing tactics.
Before investing any capital, individuals should verify the registration status of the platform or entity on the official websites of the Securities and Exchange Board of India (SEBI) or the Reserve Bank of India (RBI). Legitimate financial intermediaries and investment advisors are required to be registered with these regulators.
If you encounter any suspicious advertisements or have been targeted by such schemes, the government advises reporting the content immediately. Suspicious links, videos, or messages can be reported to the PIB Fact Check unit via WhatsApp at +91 8799711259 or through email at factcheck@pib.gov.in. Additionally, financial fraud should be reported on the national cybercrime portal at www.cybercrime.gov.in.