AI incident ·
Purported Deepfake Impersonation of Starmangalsutra Director Reportedly Led to ₹10.70 Crore (Approximately US$1.11 Million) in Unauthorized Fund Transfers
In brief
An AI system built by Synthetic Video Generation Technology Developers, Synthetic Media Generation Technology Developers and 2 others and deployed by Synthetic Media Creators, Scammers In India and 2 others allegedly harmed Victims Of Deepfake Enabled Fraud, Unnamed Employee Of Starmangalsutra and 7 others.
- Risk domain
- Not classified
- Occurred
- Coverage
- 1 report
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.
Laws that address this harm
No recorded instrument yet addresses this use case where it happened. See the open queue.
Matched from the record's risk domain and country to the instruments recorded here. A reviewer can correct the match in the repository (data/external/incident_overrides.yaml).
News reports (1)
Titles link to the original publisher; report 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)
- Risk domain
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- Risk subdomain
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- Causal entity
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- Intent
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Source record: incident #1596 on the AI Incident Database · all 1 report