# SBI warns that deepfake videos of its top management are promoting investment scams Source: https://www.bankingnewsai.com/ai-incidents/sbi-2024-executive-deepfake-investment-videos Last updated: Oct 21, 2026 State Bank of India · AI used against the institution · severity 1 of 5 State Bank of India (SBI) issued a public caution notice in December 2024 warning that "Deepfake Videos of its Top Management" were circulating on social media and claiming the launch of, or the bank's support for, investment schemes with unrealistic returns. The bank said neither SBI nor any of its top officials offers or supports such schemes, The Economic Times and The Times of India reported. SBI repeated the notice in March 2025 and, in April 2025, warned of a new wave of deepfakes claiming it had launched an AI-based investment platform with the Government of India. SBI has not disclosed any customer losses, and none of the coverage reviewed reports a loss figure. No regulatory action has been reported. ## Key facts | | | | --- | --- | | Date | Dec 16, 2024 | | Institution | State Bank of India | | Country | India | | AI system | Deepfake videos imitating State Bank of India's top management (generator not identified) | | AI? | Described as AI by the institution or regulator — The institution, a regulator or a court called the system AI. | | Category | Brand impersonation (AI used against the institution) | | Status | Confirmed by the institution | | Severity | 1 of 5 — Contained impersonation lure: the bank confirmed the deepfakes and disowned the schemes, but no customer losses, affected-customer count or regulatory action has been disclosed. | ## What happened? In mid-December 2024 SBI posted an "ALERT - PUBLIC CAUTION NOTICE" headed "BEWARE OF DEEPFAKE VIDEOS" on its official X account. The notice said deepfake videos of the bank's top management were being circulated on social media claiming the launch of, or support for, investment schemes, and that the videos "attempt to advise people to invest their money in such schemes, through use of technological tools". The Economic Times and The Times of India reproduced the notice on 17 December 2024. [1][2] SBI said: "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," and cautioned the public against engaging with or "falling prey to" the videos. The notice did not name the executives depicted or the platforms the videos promoted. [1][2] The Times of India reported on 5 March 2025 that SBI had posted the same caution notice again on X. In April 2025 the bank issued a further notice about "many deepfake videos" falsely claiming the launch of an AI-based investment platform supported by SBI in association with the Government of India and some multinational companies, according to ET CISO and Business Today. SBI listed red flags such as unnatural facial expressions, mismatched lip-syncing and distorted audio, and told customers to verify information through its official website, social media handles or branches. [3][4][5] The OECD AI Incidents Monitor logged both the December 2024 and the April 2025 warnings as AI incidents. Neither SBI's notices nor the press reports reviewed give a number of victims or an amount lost. [6][7] ## Timeline - Dec 16, 2024 — SBI posts a public caution notice on X warning of deepfake videos of its top management promoting investment schemes. [2][6] - Dec 17, 2024 — The Economic Times and The Times of India report the notice and reproduce its text. [1][2] - Mar 5, 2025 — SBI reposts the deepfake caution notice, The Times of India reports. [3] - Apr 17, 2025 — SBI warns of deepfake videos claiming it launched an AI-based, high-return investment platform with the Government of India. [4][5] ## What was the impact? - Customers: Not disclosed; no victim count or loss figure has been published by SBI or in the coverage reviewed - Other: Recurring deepfake videos of SBI's top management, and later of SBI and Government of India endorsements, used to promote fraudulent high-return investment schemes on social media. [1][4][5] ## How did State Bank of India respond? SBI said: "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." In April 2025 it added: "All our customers and public at large are advised to verify information from our official website (https://bank.sbi), official social media handles, or from any of our nearest branches." [1][4] ## What was the outcome? SBI's response was public warnings on social media, repeated in March and April 2025. No takedown figures, arrests, losses or regulatory action connected to these videos had been reported as of 21 October 2026. [3][5] ## FAQ ### Did SBI confirm the deepfake videos of its executives? Yes. State Bank of India posted a public caution notice on X in December 2024 saying deepfake videos of its top management were circulating on social media and promoting investment schemes, and that neither SBI nor its top officials offer or support such schemes. It repeated the warning in March and April 2025. ### Was any money lost in the SBI deepfake investment scams? No loss figure has been disclosed. SBI's notices warned the public not to engage with the videos but did not say how many people invested or how much they lost, and none of the Economic Times, Times of India or Business Today reports reviewed gives an amount as of October 2026. ### Was AI used to make the SBI videos? SBI itself called them deepfake videos, a term for AI-generated or AI-manipulated media, and its April 2025 notice listed tell-tale signs such as mismatched lip-syncing and distorted audio. The bank did not identify which tool produced them or which executives were depicted. ### Did a regulator act on the SBI deepfakes? No regulatory or police action specific to these videos has been reported as of 21 October 2026. The response on record is SBI's own series of public caution notices advising customers to verify information through the bank's official website, social media handles or branches. ## Sources 1. [SBI has a warning for customers to save their money](https://economictimes.indiatimes.com/industry/banking/finance/banking/state-bank-of-india-investment-schemes-sbi-has-a-warning-for-customers-to-save-their-money-deepfake-videos/articleshow/116387183.cms) — The Economic Times, Dec 17, 2024 (news): "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." 2. [SBI releases public caution notice: We clarify that ...](https://timesofindia.indiatimes.com/technology/tech-news/sbi-releases-public-caution-notice-we-clarify-that-/articleshow/116379300.cms) — The Times of India, Dec 17, 2024 (news): "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." 3. [SBI issues Public Caution Notice: Beware of ...](https://timesofindia.indiatimes.com/technology/tech-news/sbi-issues-public-caution-notice-beware-of-/articleshow/118722934.cms) — The Times of India, Mar 5, 2025 (news): "SBI shared a post on X (formerly known as Twitter) in which the bank has warned the customers about the deepfake videos." 4. [SBI flags deepfake scam videos promoting fake AI investment platform](https://www.businesstoday.in/personal-finance/banking/story/sbi-flags-deepfake-scam-videos-promoting-fake-ai-investment-platform-472409-2025-04-17) — Business Today, Apr 17, 2025 (news): "These deepfake videos falsely claim that SBI, in association with the Government of India and multinational companies, has introduced high-return investment platforms." 5. [SBI cautions users against viral deepfake videos promoting fraud](https://ciso.economictimes.indiatimes.com/news/cybercrime-fraud/sbi-cautions-users-against-viral-deepfake-videos-promoting-fraud/120538337) — ET CISO (The Economic Times), Apr 23, 2025 (news): "State Bank of India cautions all its customers and the general public about many deepfake videos being circulated on Social Media, falsely claiming the launch of an AI based platform showcasing lucrative investment schemes supported by State Bank of India in association with the Government of India and some multinational companies." 6. [SBI Warns Public of Deepfake Videos Promoting Fake Investment Schemes](https://oecd.ai/en/incidents/2024-12-16-44ab) — OECD AI Incidents Monitor, Dec 16, 2024 (incident index) 7. [SBI Warns Against AI-Powered Deepfake Fraud Investment Scams](https://oecd.ai/en/incidents/2025-04-21-6fc1) — OECD AI Incidents Monitor, Apr 21, 2025 (incident index) ## Related incidents - [AI-manipulated video of Uday Kotak promoting an investment scheme goes viral](https://www.bankingnewsai.com/ai-incidents/kotak-2025-uday-kotak-deepfake-video) All AI incidents at banks: https://www.bankingnewsai.com/ai-incidents --- Canonical page: https://www.bankingnewsai.com/ai-incidents/sbi-2024-executive-deepfake-investment-videos Part of [BankingNewsAI](https://www.bankingnewsai.com/) — the register of AI incidents at banks: https://www.bankingnewsai.com/ai-incidents. Markdown versions of every reference page: append `.md` to the page URL; index at https://www.bankingnewsai.com/llms.txt.