Madhusudan Kela, an experienced investor and the founder of MK Ventures, has issued a warning regarding a fraudulent video circulating on social media platforms. In the video, Kela is portrayed making false promises of substantial investment returns. However, Kela himself has clarified that the video is a product of artificial intelligence (AI) manipulation, with his voice dubbed over existing footage. Taking swift action, Kela has reached out to regulatory bodies such as SEBI and stock exchanges, urging them to address the dissemination of this deceptive content. Additionally, he has implored individuals to refrain from sharing or endorsing the video, emphasizing its fraudulent nature.
Expressing his concerns on the platform X, Kela alerted the public to the fraudulent video and emphasized that he has not made any such promises or endorsements. He is actively pursuing legal action against the creators of the video to combat the spread of misinformation. Kela has urged individuals not to base their investment decisions on such misleading content and has encouraged them to report the video to the relevant authorities.
The proliferation of AI-generated fake videos, commonly referred to as deepfakes, is becoming increasingly prevalent. In a recent incident reported by BOOM, a fact-checking website, there was a deepfake video featuring Mukesh Ambani, the chairman and managing director of Reliance Industries, purportedly endorsing a stock-market forum. Such instances highlight the potential dangers of deepfake technology in spreading misinformation and deceiving individuals.
In a similar vein, Narayana Murthy, the founder of Infosys, has also been targeted by fake social media videos and websites promoting dubious trading apps. Murthy condemned these fraudulent practices, revealing that these apps are associated with fraudulent websites posing as legitimate news sources. These websites utilize deepfake technology to create convincing fake interviews and news articles, further perpetuating the deception.
Addressing these fraudulent activities, Murthy unequivocally denied any endorsement or association with the mentioned applications or websites. He cautioned the public against falling prey to such malicious schemes and urged them to report any instances of fraudulent content to the relevant authorities. This underscores the importance of vigilance and critical thinking in navigating the digital landscape, particularly in light of the increasing sophistication of fraudulent tactics.
In a separate incident, Ratan Tata, the former chairman of Tata Sons, also fell victim to a deepfake video circulating on Instagram. The video falsely portrayed Tata and highlighted the need for heightened awareness regarding the prevalence of deepfake technology and its potential ramifications.
Overall, these incidents underscore the need for robust measures to combat the spread of misinformation and fraudulent activities facilitated by deepfake technology. Heightened awareness, regulatory intervention, and individual vigilance are essential in mitigating the risks associated with AI-generated fake content.
