Deepfake Video Calls for Investment Fraud — How to Identify & Stay Safe

INDIA — By BharatSecure Threat Intelligence Team · Updated May 29, 2026

Severity: HIGH | View Full Scam Details

Beware of Deepfake Video Calls for Investment Fraud in India (2026)

Deepfake video calls are emerging as a dangerous new tool for scammers targeting Indian investors, causing growing financial and emotional harm.

What Is the Deepfake Video Calls for Investment Fraud?

Deepfake video calls for investment fraud is a sophisticated scam where fraudsters use artificial intelligence (AI) to create realistic fake video calls impersonating trusted financial advisors, bankers, or investors. In India, these scams primarily target individuals interested in investment opportunities, including young professionals, small business owners, and those active on investment forums and social media platforms like LinkedIn and Facebook.

This scam is rising in severity due to the combination of advanced AI technology and growing digital dependence. The scam risks are heightened because these deepfake videos can mimic facial expressions, voices, and mannerisms convincingly, making it difficult for victims to spot deception. According to public complaints reported to the Indian Cyber Crime Coordination Centre (I4C) and CERT-In, incidents involving such deepfake scams have increased sharply since late 2023.

The Reserve Bank of India (RBI) and CERT-In have cautioned the public about evolving fraud techniques involving digital identity misuse, stressing vigilance for unsolicited investment offers via calls and messages, especially on platforms linked to UPI transactions and WhatsApp communications.

How This Scam Works — Step by Step

1. Target Identification on Social Media
   Scammers scour platforms like LinkedIn and Facebook to find potential victims who show interest in finance and investments. They study profiles, connections, and recent posts to craft a convincing approach.

2. Creating a Fake Profile and Initial Contact
   Using deepfake technology, scammers create a fake video call avatar posing as a reputed financial expert or investor the victim may know or trust. Initial contact is made through WhatsApp messages or unsolicited video call requests, often claiming to offer exclusive investment opportunities.

3. Building Trust During the Video Call
   During the deepfake video call, the scammer convincingly discusses investment options, often showing counterfeit documents or reports to appear legitimate. They might mention familiar financial terms or market scenarios to add authenticity.

4. Requesting UPI Payment or Bank Transfer
   Once trust is established, the scammer urges the victim to transfer funds immediately via UPI apps or bank transfer to a “secure” investment account. Sometimes, they pressure victims to act fast to “secure special returns.”

5. Post-Transaction Disappearance
   After the victim sends money from their UPI ID or bank account, scammers vanish. Attempts to reach the caller fail as fake profiles are deleted or blocked. Victims face losses often ranging from INR 50,000 to several lakhs.

6. Further Attempts for Data Theft or SIM Swap
   In some cases, the scammer attempts to extract documents linked to Aadhaar or OTPs to conduct SIM swap frauds or unauthorized bank transactions, deepening financial damage.

Real Warning Signs to Watch For

• Unsolicited video calls from unknown or barely known contacts claiming to be financial experts
• Requests for UPI or bank transfers during or immediately after a call, with pressure tactics
• Video calls with poor synchronization between voice and lip movement or unusual facial expressions (a subtle deepfake clue)
• Offers involving unrealistic, guaranteed investment returns or “limited time” deals
• Avoidance of face-to-face meetings or verifiable contact details such as office addresses
• Messages or calls that urge you to share Aadhaar details, OTPs, or banking passwords
• Profiles with recently created social media accounts and few connections, especially on LinkedIn or Facebook

What Happens to Victims

Victims of these deepfake investment scams in India often suffer significant financial loss, sometimes wiping out savings or emergency funds. The immediate transfer through UPI apps makes reimbursement difficult since UPI payments in India are usually final and irreversible unless the recipient returns the money voluntarily.

Beyond financial loss, victims face stress and anxiety caused by identity theft fears, especially if Aadhaar or bank data were compromised. Some report SIM swaps following the scam, resulting in disruption of mobile services and further unauthorized transactions. Recovery from such scams involves multiple steps through banks, police, and cybercrime units, which can be time-consuming and daunting.

What RBI and CERT-In Say

The RBI emphasizes that all digital payment users should be vigilant of unsolicited investment offers and never share OTPs, passwords, or Aadhaar details over calls or messages. It warns against accepting video calls from unknown contacts urging immediate fund transfer.

CERT-In advises internet users to verify identities of callers offering financial advice and to beware of video calls or messages involving investment schemes. The Indian Cyber Crime Coordination Centre (I4C) promotes filing complaints quickly via the national cybercrime portal (cybercrime.gov.in).

India’s 1930 Cybercrime Helpline is available for guidance and to report incidents of online fraud and deepfake scams.

How to Protect Yourself

1. Never respond to investment offers or video calls from unknown social media profiles without independent verification.
2. Use official company websites or trusted contact numbers to verify the identity of financial advisors or investors.
3. Do not share OTPs, Aadhaar details, PAN numbers, or banking passwords on calls or messages, even if the caller seems convincing.
4. Avoid making UPI or bank transfers under pressure; consult with trusted friends or financial advisors first.
5. Check for mismatches or unnatural movements in video calls that may indicate deepfake technology.
6. Regularly update your mobile SIM security with 2FA or check for unusual call or message behavior to prevent SIM swap fraud.
7. Keep apps like WhatsApp, LinkedIn, and UPI apps updated — and be cautious about accepting calls from unknown numbers.

What to Do If You've Been Targeted

• Immediately contact your bank and request a freeze on transactions/fund transfers from your accounts or UPI ID.
• Report the incident to the nearest police station and file a cybercrime complaint on cybercrime.gov.in.
• Call the national cybercrime helpline at 1930 to report the scam and get guidance.
• Change all banking and social media passwords and enable multi-factor authentication (MFA).
• Notify your mobile service provider if you suspect SIM swap or unauthorized access.
• Document all communication, including video call screenshots, messages, and payment receipts — this helps investigations.

Frequently Asked Questions

Q: How can I tell if a video call is a deepfake?
A: Deepfake videos may have subtle glitches like unnatural lip movement, delayed voice synchronization, or blurry edges. If you feel unsure, end the call and verify the person through official channels.

Q: Can UPI transactions in deepfake scams be reversed?
A: Generally, UPI payments in India cannot be reversed unless the recipient willingly refunds the money. Report the fraud immediately to your bank and police to improve chances of recovery.

Q: What official resources can I use if targeted by this scam?
A: You can file a complaint at cybercrime.gov.in, call the 1930 cybercrime helpline, and contact your bank’s fraud prevention center. CERT-In and RBI advisories offer additional information on fraud protection.

For any suspicious messages or calls, always verify authenticity first at BharatSecure.app and report fraud promptly via the 1930 helpline.

Disclaimer: This article describes a pattern of fraud reported in public sources for public-safety awareness. It is not legal, financial, or medical advice. To request correction or removal of any content, write to hello@bharatsecure.app.