AI incident #1596 ·
Purported Deepfake Impersonation of Starmangalsutra Director Reportedly Led to ₹10.70 Crore (Approximately US$1.11 Million) in Unauthorized Fund Transfers
What happened
Starmangalsutra Private Limited, a jewelery-manufacturing subsidiary of India-based Sky Gold and Diamonds, reportedly lost ₹10.70 crore (about US$1.1 million) after unknown actors compromised a company-issued phone and laptop and used purported deepfake methods to impersonate a director. An employee, reportedly believing the instructions were genuine, transferred funds to unknown bank accounts before verification showed the director had issued no such instructions.
Only the incident metadata is stored here. The underlying news reports are on the AI Incident Database (CC BY-SA 4.0); use the links above to read them.
News reports (1)
Coverage catalogued by the AI Incident Database. Titles link to the original publisher; the text is not reproduced here.
Who was involved
- Alleged harmed party
- Victims Of Deepfake Enabled Fraud, Unnamed Employee Of Starmangalsutra, Unnamed Director Of Starmangalsutra, Targets Of Scams, Targets Of Scammers In India, Starmangalsutra, Sky Gold And Diamonds, Epistemic Integrity, Privacy
Classification (MIT AI Risk Repository taxonomy)
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