RBI Cautions Investors, ‘Deepfake videos’ of Governor Shaktikanta Das Circulating on Social Media

Cases of misuse of Artificial Intelligence (AI) have increased in the last few months. These also include deepfake videos. Reserve Bank of India (RBI) said on Tuesday that deepfake videos of Governor Shaktikanta Das are being circulated on social media in which investment schemes with the support of RBI are being claimed.

In this regard, a statement issued by the RBI said, “Reserve Bank of India has come to know that fake videos of the Governor are being circulated on social media claiming the launch of some investment schemes with the support of RBI. “In these videos, an attempt is being made to advise people to invest money in such schemes.”

Deepfakes are videos, photos, or audio created or edited, usually using AI tools, that mimic real or non-existent people. RBI has also clarified that none of its officers is involved in such activities. Along with this, RBI has asked people to be cautious and avoid such posts on social media. Last year, the central government had also warned Facebook and YouTube about deepfakes. Social media platforms including Facebook and YouTube were told that deepfakes and posting content that spreads obscenity or misinformation are banned under the country’s law.

Minister of State for IT Rajeev Chandrasekhar had said that many social media companies have not updated the terms and conditions for their users despite the rules being implemented last year. Under these rules, content that is harmful to children, obscene or imitating another person is banned. Chandrashekhar said that these companies should increase awareness about these rules and tell the users when they log in that they cannot post such content. The cases of making fake videos of politicians and celebrities with the use of AI have also increased. The government is preparing to make new regulations against this. Under these regulations, fines can be imposed on the platforms that create deepfakes and host them.