By Ashwani Mishra, Editor-Technology, 63SATS
AI-generated deepfake technology, which can seamlessly mimic a person’s voice, facial expressions, and speech patterns, is now being weaponized by cybercriminals to deceive and defraud unsuspecting individuals.
From YouTube CEO Neal Mohan to Reliance Chairman Mukesh Ambani, high-profile executives are being impersonated in fabricated videos to spread misinformation, lure victims into scams, and manipulate markets.
These AI-powered impersonations pose serious security risks, making it crucial for individuals and organizations to stay alert and verify sources before acting on any digital content.
YouTube’s Warning: A CEO Who Never Spoke
On March 5, 2025, YouTube issued an urgent warning to content creators regarding a fraudulent deepfake video of its CEO, Neal Mohan. The fake video, privately shared with users, claimed that YouTube was making changes to its monetization policy and urged creators to follow specific instructions—ultimately leading to credential theft and malware installation.
How the Scam Works:
AI-generated video of Neal Mohan is privately shared with targeted users.
The video looks and sounds authentic, mimicking his voice, gestures, and mannerisms.
Creators are encouraged to click on links, enter login details, or download software.
Once compromised, hackers gain access to YouTube accounts, which can then be misused for fraud, misinformation, or further phishing attacks.
YouTube quickly reassured users, stating:
“YouTube and its employees will never contact you or share information through a private video.”
This incident marks one of the most sophisticated phishing scams to date, where cybercriminals use AI to exploit the trust creators have in official announcements from platform executives.
Financial Market Manipulation: AI Clones in the Stock Market
Deepfake scams are not just limited to social media platforms—they have also infiltrated the financial sector, posing a huge risk to investors.
In April 2024, the National Stock Exchange (NSE) of India warned investors about a fake video of its MD & CEO, Ashishkumar Chauhan. The video, which appeared to be a legitimate financial advisory, recommended specific stocks for investment, leading many unsuspecting investors to act on false financial advice.
Similarly, in February 2024, a deepfake video of Mukesh Ambani, Chairman of Reliance Industries, surfaced online. The video falsely promoted a stock tips group, urging people to invest based on fabricated insights. Given Ambani’s credibility and influence in financial markets, many people almost fell for the scam.
These incidents highlight how deepfake AI can be used for financial fraud, stock manipulation, and investor deception, creating a dangerous precedent where fake videos can sway market movements.
How AI Deepfakes Work: A Dangerous Illusion
The technology behind these fake videos is alarmingly sophisticated. AI models, particularly Generative Adversarial Networks (GANs) and voice synthesis tools, are trained on hours of real footage and voice samples of an individual.
Steps involved in creating deepfake scams:
- Data Collection – Scammers collect publicly available videos, speeches, and audio clips of a target.
- AI Training – The AI model analyzes facial expressions, speech patterns, and voice modulations to create an authentic replica.
- Video Generation – Using AI, fraudsters synchronize fake speech with realistic facial movements.
- Dissemination – These videos are shared privately or through social media, exploiting people’s trust in public figures.
What makes deepfakes especially dangerous is that even tech-savvy individuals struggle to distinguish them from real footage.
Why Deepfake CEO Scams Are Growing
The rise of deepfake CEO scams can be attributed to multiple factors:
- Increased Availability of AI Tools – Anyone with access to deepfake software can generate hyper-realistic videos.
- Public Trust in CEOs & Influencers – People are more likely to believe a message if it appears to come from a trusted leader.
- Targeted Attacks on High-Value Individuals – CEOs, business executives, and policymakers are prime targets for impersonation.
- Lack of Awareness – Many individuals still do not know how advanced deepfake technology has become.
As AI tools become more accessible and refined, these scams will only grow more dangerous and frequent.
The Future: Fighting AI with AI
While deepfake scams are becoming more sophisticated, AI is also being used to combat these threats. Companies like Google, Microsoft, and Meta are developing AI-based deepfake detection systems to identify manipulated content in real-time.
Additionally, governments worldwide are tightening regulations to hold perpetrators accountable and introduce digital authenticity verification.
The rise of deepfake CEO scams proves that in today’s digital landscape, seeing is no longer believing. While AI has revolutionized many industries, it has also introduced new risks that threaten trust, security, and financial stability.
The best defense is awareness, scepticism, and verification. Whether it’s a fake YouTube policy update or fraudulent stock recommendations, always question the authenticity of high-profile digital communications before taking action.
