Hyderabad Cybercrime Police has slapped Meta with a notice for the growing number of AI-generated deepfake investment scams in its social media for the more than 3 million users to follow and invest in. The move comes as fake advertisements using fake videos and images of celebrities, business leaders and other public figures to lure users into fake investment schemes are on the rise in the city.
Law enforcement officials said cybercrime investigators have seen an increase in complaints from victims who lost hope after being deceived by advertisements that advertised an unrealistic investment return. Those ads were all fake and AI-generated deepfake videos were said to have featured people in a very short video with names of well-known figures endorsing investment platforms or financial products that they had no connection with.
The Cybercrime Police have sought Meta to provide up-to-date information on the origin of advertisements or their publication and the platform for detecting and removing fraudulent content based on AI-generated advertisements and the way the platform can do so. Also investigators are looking into how these advertisements were approved and distributed to users even with such fake and fraudulent content in place.
Researchers say cybercriminals are more comfortable using artificial intelligence to create convincing fake videos and voice recordings that seem real. The deepfakes often use celebrities, politicians, financial experts and corporate executives’ names to win the trust of potential victims before they go to a fake investment website or messaging site.
Officials have said the public needs to be very cautious when looking at investment advertisements on social media. They said users should verify investment advertisements on official company websites and registered financial institutions instead of just being taken for granted from online videos and sponsored posts. Promises of guaranteed returns or unusually high profits should be taken as a sign.
Hyderabad Cybercrime Police also reiterate that people should not transfer money based on advertisements or messages received through social media platforms. Any suspected cyber fraud victims are urged to report the incident immediately to the nearest cybercrime police station or to the national cybercrime reporting portal to enhance the level of investigation and recovery.
The case highlights the growing challenge brought by AI-driven cybercrime as deepfake technology becomes increasingly available. While artificial intelligence can be beneficial for industries, fraudsters have already begun to use it to create very convincing scams that can easily fool even the most experienced users of the internet.
Investigation into the fraud should also be done jointly with Meta and other technology companies to improve the protection against AI-enabled fraud and remove false advertisements. Future measures to make online life safer and prevent financial fraud will be based on the result of the probe.
With deepfake scams getting more sophisticated, cybersecurity experts counsel users to verify every investment opportunity independently, remain wary of celebrity endorsements on social media and promptly report suspicious advertisements in order to prevent online financial fraud.
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