Finance Minister Nirmala Sitharaman on Tuesday cautioned against the growing menace of deepfake videos, revealing that manipulated clips of her have been circulating online. Speaking at the 6th Global FinTech Fest 2025 in Mumbai, she said such content poses a serious challenge to digital trust and underscores the need for robust security frameworks.
“The new generation of fraud is no longer about breaching firewalls; it is about hacking trust,” she warned, adding that criminals are increasingly using AI to clone voices, create lifelike videos, and mislead citizens.
To counter rising cases of impersonation and fraud in the financial ecosystem, Sitharaman highlighted new initiatives by regulators such as SEBI and NPCI. These include a verified UPI handle for SEBI-registered intermediaries — with suffixes like “.brk” for brokers and “.mf” for mutual funds — and a new “SEBI Check” service that enables investors to verify UPI IDs and bank account details before making payments.
She lauded these measures for enhancing investor safety and promoting transparency. “Responsible regulation is not a brake on progress; it is a seatbelt for safe acceleration,” she said, urging fintech companies to focus on innovation, profitability, and compliance.
Sitharaman also emphasized India’s growing strength in artificial intelligence, citing the $1.3 billion IndiaAI Mission and the country’s position as a top global AI talent hub. She said India offers an ideal environment for developing and testing AI-driven fintech solutions, supported by strong digital infrastructure and policy initiatives such as Aadhaar, UPI, and DigiLocker.
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