Deepfake fraud

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At Kotak, your account security is of top-most priority to us. We would like you to be aware and cautious about fraudsters who are using cutting edge Deepfake technology to fool you into believing that you are dealing with someone you know.

What is Deepfake fraud?

Deepfake technology uses deep learning – a form of artificial intelligence (AI) - to create a fake image, video or audio fragments. By using big datasets of images, audio and video it imitates someone’s voice or facial expression. This way fraudsters can make people say or do things they have not really said or done.

How does the Fraud happen

You are likely to receive messages/calls/video calls.

Using Deepfake technology, the fraudster will video call you and for a fleeting second, show you a face that’s very similar to someone known to you. They will then immediately disconnect and do a normal voice call, claiming that there are network issues. They can also make themselves sound like someone you know.
Fraudster will usually mention an emergency situation for which they need money.

The fraudster may mention a medical emergency or some such situation and appeal to you for help. Since the technology is sophisticated, it is easy to believe that you are being contacted by someone you know who is in genuine need.

How to safeguard yourself from it

If someone you know contacts you seeking urgent financial help, try and verify their need by contacting those near and dear to them
If possible, you should meet in person before making any payments
Don’t accept any alternate numbers to which you can make payments via wallets/UPI
Don’t transfer funds to anyone unless you have been able to satisfy yourself that it is a genuine need

Follow all your usual safety tips and do not share personal details as well as PIN or OTP.

Also, at all times, please note — Kotak Mahindra Bank or its employees/representatives will never ask for your personal account information. Please do not respond to fraudulent emails or SMS that ask you for such details.

To report a fraud or any suspicious activity, call our fraud helpline number - 1800 209 0000.

Remember, being alert goes a long way in keeping yourself protected.

Warm regards,
Team Kotak Mahindra Bank