Uday Kotak Warns Against His Viral Video Endorsing Investment Scheme: 'Do Not Be Entrapped'

Billionaire banker Uday Kotak on Tuesday dismissed rumours that he is promoting a certain investment scheme with guaranteed returns, as seen in a viral video. He warned the public against the fake video of him circulating online, which falsely shows him endorsing the investment scheme.

In a post on X (formerly Twitter), Uday Kotak warned the public, urging them not to fall for the fraudulent content. "There is a video circulating on social media where I am apparently seen promoting an investment scheme and guaranteed returns. This is fake. Please do not be entrapped by it," he said.

The clip in question is an old video of Uday Kotak manipulated using artificial intelligence technology to show that he was endorsing certain financial products. In the viral fake video, he is seen talking about investing Rs 21,000 and earning over Rs 4 lakh weekly.

The misleading portrayal of Uday Kotak using AI is not an isolated incident. In the past, many celebrities and public figures have been targeted by similar incidents, where their fake videos have surfaced online. These videos typically involve deepfake technology, which can manipulate facial expressions, voices and actions to create realistic-looking content.

Actors and public figures are among the easiest targets for AI-generated fake videos due to their widespread recognition and influence. High-profile individuals like Amitabh Bachchan and Sachin Tendulkar have also fallen victim to such incidents. They also warned their fans against falling prey to such videos.

In February, market veteran Vijay Kedia also disowned a similar video, where he was shown as promoting a scheme. He warned the public, urging them to be cautious as he does not offer financial services or advice, whether free or paid. 

These incidents have raised concerns about the growth of sophisticated online scams. Healthcare and finance are two sectors where deepfake attacks are becoming more common.