The Reserve Bank of India (RBI) issued a warning on Tuesday regarding "deepfake" videos of its governor circulating on social media. These videos falsely claim that the central bank is launching or endorsing certain investment schemes. In its statement, the RBI urged the public to be cautious of such misleading content, particularly videos featuring its top management offering financial advice.
"It has come to the notice of Reserve Bank of India that fake videos of the Governor are being circulated in social media that claim launch of or support to some investment schemes by the RBI," it said.
"RBI clarifies that its officials are not involved in or support any such activities and these videos are fake. RBI does not give any such financial investment advice," the statement said.
The central bank urged the public to avoid engaging with and falling victim to deepfake videos circulating on social media. Earlier this year, the National Stock Exchange (NSE) had issued a similar advisory, warning investors not to be deceived by fake or AI-generated deepfake videos featuring its MD and CEO, Ashishkumar Chauhan, allegedly recommending stocks.
There have been multiple instances where videos featuring prominent business leaders were shared on social media, allegedly recommending stocks and offering business advice. However, all these videos were found to be fake and generated using Artificial Intelligence.