Businessman loses ₹1.45 crore in alleged cyber fraud

Image for representational purpose only A businessman from Naduvannur in Kozhikode was reportedly duped of ₹1.45 crore after he fell victim to a deepfake video allegedly featuring Union Finance Minister Nirmala Sitharaman on Facebook.According to the police, fraudsters used an AI-generated video to lure the businessman into a high-return investment scheme with a false promise of massive profits. The man reportedly transferred the money in 30 separate instalments, culminating in a total loss of ₹1.45 crore.The Kozhikode (Rural) cyber police have registered a case and launched an investigation.The incident comes close on the heels of another alleged cyber scam in Vadakara, where a couple lost ₹3 lakh. In that incident, too, the perpetrators allegedly misled the victims using a fraudulent deepfake video featuring the Union Minister.Meanwhile, the authorities told the public to be highly cautious of unverified financial schemes and deepfake video advertisements circulating on social media platforms. Published - November 15, 2026 07:08 pm IST