The Reserve Bank of India (RBI) has issued a press release cautioning the public against fake videos featuring the RBI Governor giving financial advice. These videos falsely claim that the Governor supports certain investment schemes. “It has come to the notice of the Reserve Bank of India that fake videos of the Governor are being circulated on social media, claiming the launch of or support for certain investment schemes by the RBI. These videos use technological tools to mislead people into investing in such schemes,” the notification states.
The RBI has clarified, “RBI officials are not involved in or supportive of such activities, and these videos are fake. RBI does not provide financial or investment advice.”
The central bank has urged the public not to act on any such videos, which are fabricated and unauthorised.
What Is Deepfake?
Sanjay Kaushik, a cybersecurity expert and Managing Director of Netrika Consulting India Pvt. Ltd, explains, “Deepfake technology involves creating a video or image where a person appears to be someone else. These videos or images are highly deceptive, making it seem like the individual is saying or doing something they did not.”
Fortinet, a US-based cybersecurity firm, defines deepfake as a form of artificial intelligence (AI) used to create realistic hoax images, sounds, or videos. The term "deepfake" combines the deep learning concept with something fake”.
Deepfake is not a technology in itself but rather the term for the application of AI when it is used to fabricate someone’s photo, voice, or video. Fraudsters can misuse this technology to commit scams or spread misinformation, often featuring celebrities or public figures. The latest victim of such deepfake manipulation is the RBI Governor.
How To Fact-Check And Identify Deepfakes:
Cyber fraudsters use various techniques to deceive innocent people, and deepfake videos are among the most malicious. These videos are often created to manipulate public opinion, steal identities, or spread false information.
Kaushik notes, “Modern technology has advanced to the point where it can sync lip movements, facial expressions, and even eyebrows to mimic a real conversation, making detection challenging.”
Still, there are some red flags that can help you distinguish deepfake videos from authentic ones:
Eye Movements: Experts say that one can observe the fakeness through the eye movement of the person in the video. AI-generated videos often fail to replicate natural eye movements. Watch for inconsistencies, such as unnaturally slow blinking or eye movements that do not align with the speech.
Skin Texture and Color: Deepfake videos often have skin textures that appear unnaturally smooth or overly wrinkled. Similarly, unusual lighting or shiny skin can indicate manipulation. Facial expressions or jerky movements of the head also hint that the video could be a fake.
Lip Syncing: Mismatched lip movements are one of the easiest ways to identify a deepfake. In poorly created videos, the lips may not align with the words being spoken.
The RBI has already issued a warning against videos that falsely depict the Governor giving financial advice. It is crucial to remain vigilant and verify any such content before believing or acting on it. Stay alert and informed to protect yourself from deepfake scams.
