Rajasthan Police issue cyber advisory over use of AI and fake investment apps
Jaipur, June 12
The Rajasthan Police's Cyber Crime Branch has issued a public advisory warning citizens about a growing wave of cyber fraud involving AI-generated deepfake videos, fake stock market investment apps, and misleading social media advertisements, officials said.
According to V.K. Singh, Rajasthan Additional Director General of Police (Cyber Crime), cybercriminals are misusing artificial intelligence and deepfake technology to create fake videos of prominent investors, industrialists, and celebrities, officials added on Thursday.
These manipulated videos are circulated on social media platforms to convince people that they can earn quick and substantial profits through specific investment schemes.
Cybercriminals run attractive advertisements on platforms such as Facebook, Instagram, YouTube, and Telegram.
Once users click on these advertisements, they are added to WhatsApp or Telegram groups with names such as "Elite Investment Group" or "Super Trading Club".
Most members of these groups are fake accounts or bots controlled by fraudsters. To gain the trust of potential victims, the cybercriminals share fabricated screenshots showing profits worth lakhs of rupees and post fake testimonials of successful investors.
Victims are then persuaded to download a trading application through a suspicious link or APK file. Initially, the app displays investments and profits on its dashboard, creating the illusion of genuine earnings.
However, when investors attempt to withdraw their money, they are asked to deposit additional amounts in the name of taxes, commissions, processing fees, or other charges. Eventually, the fraudsters disappear, leaving victims with significant financial losses.
The Rajasthan Police Cyber Crime Branch has urged citizens to take the certain precautions, download applications only from official app stores such as Google Play Store and Apple App Store, never install apps through APK files or links received from unknown sources, verify the company's registration with SEBI before making any investment, avoid transferring money to private individuals or unverified bank accounts, restrict WhatsApp and Telegram group privacy settings to "My Contacts", independently verify all investment opportunities before investing and report cyber fraud immediately.
Anyone who falls victim to such fraud should immediately report the incident through the National Cyber Crime Reporting Portal or by calling the national cyber helpline number 1930.
Citizens can also contact the Rajasthan Police Cyber Helpdesk at 9256001930 and 9257510100 for assistance.
The Rajasthan Police have appealed to the public not to invest money in any online investment platform without proper verification.
Authorities stressed that vigilance and verification remain the most effective tools for protecting oneself against cyber fraud.
— IANS
Reader Comments
Honestly, I'm tired of these random WhatsApp groups adding me with names like 'Stock Trading Tips' or 'Mutual Fund Experts'. I always block and report them immediately. But the elderly and those not tech-savvy fall for this trap easily. We need more awareness campaigns in villages and small towns, not just advisories on news portals.
One thing the advisory didn't mention: always check if the app is listed on Google Play or Apple Store with real reviews. Also, never trust investment promises that seem 'too good to be true'—because they are! I saw a deepfake video of Ratan Tata endorsing some trading app. It looked so realistic. Poorly educated people would definitely fall for it. Scary times.
Important advisory but I think the Police should also go after these social media platforms. Why are these scam ads even allowed to run on Facebook and YouTube? They should have stricter verification before running financial ads. And why is there no mention of SEBI's role? We need a joint effort.
I'm an NRI but my parents live in Jaipur. They called me yesterday saying they saw a 'great investment opportunity' on YouTube. I had to explain it's a scam. The advisory numbers are helpful—I'll share them with my family. But I think the helpline should also work via WhatsApp for easier access in rural areas. 1930 is good but many people don't know about it.
The scammers are getting smarter with AI and deepfakes. My friend almost transferred money after seeing a deepfake of Amitabh
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.