SBI Alert: 'Public Caution Notice... ' Issued By Bank - See Details

Deepfakes are being used extensively in media, entertainment, photography, etc. and at times to scam people. Recognising this fact, The State Bank Of India ( SBI ) issued a notification wherein they warned about deepfake videos of their senior management. 

Rise Of Deepfakes: SBI Sounds Alert

SBI posted a notice of caution on X against deepfakes, "ALERT PUBLIC CAUTION NOTICE BEWARE OF DEEPFAKE VIDEOS

State Bank of India cautions all its customers and general public that Deepfake Videos of its Top Management are being circulated in Social Media that claim launch of or support to some investment schemes. These videos attempt to advise people to invest their money in such schemes, through use of technological tools. 

“We clarify that SBI or any of its Top Officials do not offer or support any such investment schemes promising unrealistic or unusually high returns. Members of the public are, therefore, cautioned against engaging with and falling prey to such deepfake videos circulated over Social Media.” the bank added.

SBI also added to the post in a different tweet, "Please do not share your banking or personal information publicly on this platform for security reasons. Bank will not be responsible for any loss due to this. We recommend you to delete this information immediately. You may repost it excluding such sensitive information. It is advisable to contact us via DM (Direct Message)."

In 2023, deepfake fraud attempts accounted for 6.5 per cent of total fraud attempts, marking a 2,137 per cent increase over the past three years, according to Keepnet Labs.

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