Deepfake of FM Nirmala Sitharaman used to dupe Bengaluru retiree of Rs 6.88 lakh

Mangalore Today News Network

Bengaluru, Jul 20, 2026: A 66-year-old retiree from Bengaluru lost Rs 6.88 lakh after being lured into a fake investment scheme promoted through a deepfake video of Finance Minister Nirmala Sitharaman on Facebook.

The victim, a resident of Narayanapura, came across a video that falsely portrayed the finance minister endorsing an investment platform allegedly developed by the Ministry of Finance in association with the State Bank of India. The video claimed the scheme would provide Indians with a reliable source of supplementary income and featured fabricated statements attributed to Sitharaman to create a sense of urgency.

The video also claimed that senior citizens could earn substantial returns by investing Rs 22,000 and directed viewers to a website purportedly affiliated with the Union government.

Trusting the claims, the retiree clicked the link and entered his KYC and other personal details. He was soon contacted through a WhatsApp call from a number with the +44 (UK) country code.

The caller convinced him that, as part of the government scheme, investing more than Rs 6 lakh instead of Rs 22,000 would fetch him Rs 15 lakh within 10 days. Believing the offer to be genuine, the victim transferred Rs 6.88 lakh to the fraudsters in multiple transactions between March and June this year.

When he failed to receive the promised returns, he realised he had been cheated and filed a complaint with the police.

The Northeast Cybercrime Police have registered a case and launched an investigation into the fraud.