SBI Warns Customers About Rising Deepfake Scams Targeting Bank Accounts
The State Bank of India (SBI) has issued a detailed public alert warning customers about the rapidly growing threat of deepfake scams, a sophisticated form of cyber fraud that uses artificial intelligence (AI) to deceive victims into transferring money or sharing sensitive banking information. The advisory, shared on SBI’s official handle on X, highlights how cybercriminals are now leveraging advanced technology to create highly convincing fake communications that are becoming increasingly difficult to identify.
What Are Deepfake Scams and Why Are They Dangerous?
Deepfake scams involve the use of AI-driven tools to generate realistic but fabricated audio, video, and image content. According to SBI, fraudsters can now accurately replicate a person’s voice, facial expressions, appearance, and speaking style, making it seem as though the message or call is coming from a genuine and trusted source.
The bank explained that criminals deliberately target victims’ emotional vulnerabilities. By impersonating bank officials, senior corporate executives, close relatives, or trusted acquaintances, scammers create a sense of urgency or panic. This emotional pressure often pushes victims to act quickly before verifying the authenticity of the request.
SBI outlined the common methods used by fraudsters carrying out deepfake scams. These criminals usually initiate contact via messaging platforms or video calls, where they present urgent or emergency situations requiring immediate financial action. The content may include AI-generated videos, voice messages, or images that closely resemble real individuals.
The manipulation tactics often involve claims such as sudden medical emergencies, account-related issues, or last-minute business requirements. Due to the high quality of AI-generated content, many victims find it difficult to distinguish between genuine communication and fraud.
The bank stressed that no legitimate bank official will ever ask for confidential details or pressure customers into instant action.
Reporting Deepfake or Cyber Fraud: What Customers Should Do
SBI has provided clear instructions for customers who suspect they are being targeted by deepfake scams or other cyber frauds. Acting quickly is key to minimizing losses and helping authorities track cybercriminal activity.
Steps to Report Fraud:
Contact the SBI Cybercrime Helpline
Use Official Online Reporting Portals
Notify Your Bank Immediately
Document Everything
Avoid Delays
By following these steps, customers not only protect themselves but also contribute to wider efforts in combating AI-powered scams and other cybercrime activities.A Wider Concern for the Banking Industry
SBI’s warning reflects broader concerns across the banking and financial sector. As digital and AI technologies continue to evolve, cybercriminals are becoming more sophisticated in their methods. This growing “technology arms race” has made customer awareness and vigilance more important than ever.
The advisory underlines the need for proactive security habits and informed decision-making. Financial institutions, including SBI, are increasingly focusing on awareness campaigns to educate customers about emerging threats and prevent AI-powered fraud.
SBI’s message is clear: while technology can be misused, staying alert, questioning urgency, and verifying before acting remain the strongest safeguards against deepfake scams and financial fraud.
What Are Deepfake Scams and Why Are They Dangerous?
Deepfake scams involve the use of AI-driven tools to generate realistic but fabricated audio, video, and image content. According to SBI, fraudsters can now accurately replicate a person’s voice, facial expressions, appearance, and speaking style, making it seem as though the message or call is coming from a genuine and trusted source.The bank explained that criminals deliberately target victims’ emotional vulnerabilities. By impersonating bank officials, senior corporate executives, close relatives, or trusted acquaintances, scammers create a sense of urgency or panic. This emotional pressure often pushes victims to act quickly before verifying the authenticity of the request.
How Deepfake Fraud Typically Operates
SBI outlined the common methods used by fraudsters carrying out deepfake scams. These criminals usually initiate contact via messaging platforms or video calls, where they present urgent or emergency situations requiring immediate financial action. The content may include AI-generated videos, voice messages, or images that closely resemble real individuals.
The manipulation tactics often involve claims such as sudden medical emergencies, account-related issues, or last-minute business requirements. Due to the high quality of AI-generated content, many victims find it difficult to distinguish between genuine communication and fraud.
Essential Safety Measures Issued by SBI
To protect customers from falling prey to deepfake scams, SBI has urged strict adherence to the following safety protocols:- Never respond immediately to messages or calls demanding urgent payments
- Always verify financial requests through official bank channels or trusted contact numbers
- Do not click on suspicious links or download unknown attachments
- Never share OTPs, account details, passwords, PINs, or QR codes on unofficial platforms
- Take time to confirm the identity of the person making any financial request
The bank stressed that no legitimate bank official will ever ask for confidential details or pressure customers into instant action.
Reporting Deepfake or Cyber Fraud: What Customers Should Do
SBI has provided clear instructions for customers who suspect they are being targeted by deepfake scams or other cyber frauds. Acting quickly is key to minimizing losses and helping authorities track cybercriminal activity.
Steps to Report Fraud:
Contact the SBI Cybercrime Helpline
- Call 1930, the official cybercrime helpline.
- Provide all relevant details, including suspicious messages, calls, emails, or links.
Use Official Online Reporting Portals
- File complaints through the official cybercrime reporting website: https://cybercrime.gov.in
- Upload screenshots or any supporting evidence of the fraud attempt.
Notify Your Bank Immediately
- Inform SBI via its official customer care channels if any account information or funds have been compromised.
- This helps freeze accounts or block transactions to prevent further loss.
Document Everything
- Keep a record of all messages, emails, or calls from the suspected fraudster.
- Detailed documentation aids law enforcement in investigating and tracing the culprits.
Avoid Delays
- Prompt reporting increases the chances of stopping fraudulent transactions and helps authorities act faster.
By following these steps, customers not only protect themselves but also contribute to wider efforts in combating AI-powered scams and other cybercrime activities.A Wider Concern for the Banking Industry
SBI’s warning reflects broader concerns across the banking and financial sector. As digital and AI technologies continue to evolve, cybercriminals are becoming more sophisticated in their methods. This growing “technology arms race” has made customer awareness and vigilance more important than ever.
The advisory underlines the need for proactive security habits and informed decision-making. Financial institutions, including SBI, are increasingly focusing on awareness campaigns to educate customers about emerging threats and prevent AI-powered fraud.
SBI’s message is clear: while technology can be misused, staying alert, questioning urgency, and verifying before acting remain the strongest safeguards against deepfake scams and financial fraud.
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