Sitharaman Urges Action Against Deepfake Threats in Finance

Union Finance Minister Nirmala Sitharaman has raised concerns about the rise of deepfake videos, emphasizing the need for strengthened defenses. Speaking at the Global Fintech Fest, she warned about AI's transformative role in finance and governance while underscoring its dangerous potential for deception and fraud.

Sitharaman revealed personal encounters with manipulated deepfake videos designed to mislead and distort facts, highlighting the urgency for action. She identified this as a new generation fraud that targets trust, with AI being used by criminals to mimic voices and clone identities.

The Finance Minister called for a united effort from fintech innovators, investors, and regulators to build secure, resilient, and inclusive systems. She praised Sebi's initiatives addressing impersonation threats, stressing that technological advances must serve humanity positively.

(With inputs from agencies.)