Deepfakes and Deception: A New AI Scam Network Is Targeting India

Threat intelligence researchers at RedHunt Labs have uncovered a sprawling network of AI-driven scams on Facebook and Instagram, using deepfakes, counterfeit news sites and fake celebrity endorsements to lure Indian users into fraudulent investment schemes. According to RedHunt Labs, the campaigns feature manipulated videos and articles claiming to reveal celebrities’ wealth secrets, with figures such as Nirmala Sitharaman, Sadhguru and Neha Kakkar appearing in fake endorsements.

The researchers say victims are directed to counterfeit news sites mimicking outlets like The Times of India or NDTV, and fake testimonials and social proof are used to bolster the illusion of legitimacy. The operation spans more than 1,000 interconnected fraudulent websites across India and Southeast Asia, with ads and short-lived campaigns designed to avoid detection.

In India, 63,000 investment scams were reported in four months of 2024, and 48% of victims lost over ₹50,000, including a case in Faridabad where a woman lost ₹7 crore. The fraudsters also push fake trading bots and manipulated SEO, leveraging AI-generated content to broaden their reach.