The Rise of Deepfake Scams: A Mumbai Doctor Loses Rs 7 Lakh to a Bogus Trading Academy
A Mumbai-based doctor falls prey to a deepfake video of Mukesh Ambani, resulting in a loss of Rs 7 lakh in a stock market scam.
Deepfake ScamsStock Market ScamsMukesh AmbaniRajiv Sharma Trade GroupBcf AcademyFraudulent SchemesReal Estate MumbaiJun 22, 2024
Dr. Patil was convinced of the legitimacy of the academy after searching for them online and finding that they had offices in London and at the Bandra Kurla Complex in Mumbai. She proceeded to invest a total of Rs 7.1 lakh between May and June, and was provided with an account where she could monitor her investments. According to her FIR, her investments jumped to over Rs 30 lakh in profits.
However, when she attempted to withdraw the amount this month, she was unable to do so. Realizing that she was duped, she then lodged a complaint with the police. The police have registered a case under sections 419 and 420 of the Indian Penal Code (IPC) and section 66(D) of the IT Act and are currently investigating 16 bank accounts to which Dr. Patil transferred money.
This case highlights the growing threat of deepfake scams, which use advanced technology to create convincing but fake videos, images, and audio recordings. Such scams can have devastating financial consequences, as seen in Dr. Patil's case. It is essential for individuals to be cautious and verify the authenticity of investments before handing over their hard-earned money.
Information Rajiv Sharma Trade Group and BCF Academy are bogus trading academies that have been using deepfake technology to scam innocent individuals. These academies promise high returns on investments but are actually fraudulent schemes designed to cheat people out of their money.
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Frequently Asked Questions
What is a deepfake scam?
A deepfake scam is a type of scam that uses advanced technology to create convincing but fake videos, images, and audio recordings to cheat people out of their money.
How did the Mumbai-based doctor fall prey to the scam?
The doctor fell prey to the scam after seeing a deepfake video of Mukesh Ambani promoting a bogus trading academy on her Instagram feed.
How much money did the doctor lose to the scam?
The doctor lost Rs 7 lakh to the scam.
What action has been taken against the scammers?
The police have registered a case under sections 419 and 420 of the Indian Penal Code (IPC) and section 66(D) of the IT Act and are currently investigating 16 bank accounts to which Dr. Patil transferred money.
How can one avoid falling prey to such scams?
It is essential to be cautious and verify the authenticity of investments before handing over your hard-earned money. Always research the company and check for reviews and testimonials before investing.
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