Indian Finance Minister Endorses QuantumAl? Beware of Investment Scam Supported by Deepfakes

Recently, fraudulent investment advertisements impersonating Indian officials with deepfake technology have spread widely on social media platforms like Facebook and Instagram. Fraudsters are leveraging this AI technology to promote a trading platform named “QuantumAl” to the public.

These videos alleged that the platform demands an initial investment of just ₹21,000, while promising staggering daily returns of ₹60,000 and monthly earnings surpassing ₹1 million. They also featured Indian Finance Minister Nirmala Sitharaman, seemingly endorsing and backing the scheme.

India’s Press Information Bureau (PIB), along with other official government sources, has confirmed that these deceptive videos were created using deepfake technology. Scammers deliberately manipulated both video and audio footage to falsely portray the Finance Minister as endorsing the trading platform.

According to the Indian authorities, neither Sitharaman nor the Indian government has authorized or endorsed QuantumAl. The government urged the public not to believe or share such fake videos.

Financial experts warned that the investment offers in the video exploit people's desire to get rich quickly and are almost certainly scams.

BrokersView reminds you

The tactics used to lure the public into fraudulent investment schemes are constantly evolving, with deepfake videos emerging as one of the most common methods in recent years. The sophisticated AI technology possesses the ability to create deceptive content, posing significant risks to investors.

If you encounter similar fraudulent investment videos on social media, you can report them through BrokersView.