- Clone websites, fake SEBI seals, and Deepfake Chatbots
Article Today, Hyderabad:
A single ‘like’ on social media has become enough to trigger a financial catastrophe for unsuspecting users. The recent case of Sumit Kumar, a chef from Uttarakhand, highlights how sophisticated cybercriminals use cloned websites, AI chatbots, and fake investment platforms to defraud people of crores of rupees. Within minutes of liking a financial advisor’s post online, Mr. Kumar received a WhatsApp message that lured him into an elaborate scam network.
Clone Websites with Fake Regulatory Seals
The perpetrators created a replica of an authentic trading website named 361WAM, complete with a counterfeit registration number from the Securities and Exchange Board of India (SEBI). The cloned site was indistinguishable from the original, making it almost impossible for victims to detect the fraud. Using fabricated WhatsApp groups filled with fake investors, the scammers created an illusion of success. Artificial profiles under names like “Anjali” and “Bhagat” shared screenshots showing large profits, convincing victims to invest further.
Money Laundering through Mule Accounts
Investigations revealed that the stolen money was rapidly dispersed through a network of “mule” or rented bank accounts. Mr. Kumar lost Rs. 38 lakh after being shown a fake account balance of Rs. 3.4 crore. When he attempted to withdraw the funds, he was asked to pay an additional Rs. 51 lakh as “service charges.” The money trail showed transactions through 15 primary accounts, later routed to 250 intermediary accounts, and finally distributed among more than 20,000 smaller ones. Many of these accounts were linked to online gaming and betting platforms, making recovery nearly impossible.
Deepfake and AI Tools Fueling Fraud
Cyber experts warn that Artificial Intelligence is now amplifying the scale of such financial crimes. Fraudsters are using deepfake videos and cloned voices of popular financial advisors to mislead investors. AI-powered chatbots simulate expert financial conversations, enhancing the credibility of fake trading platforms. According to cybercrime data from the past six months, over 30,000 people have collectively lost more than Rs. 1,500 crore in similar scams across India.
Delays in Blocking Fraudulent Sites
Despite repeated complaints, victims say fake websites remain active for weeks or months before being taken down. In Mr. Kumar’s case, his complaint filed on July 15 took nearly a month to register, and another month to block the fraudulent website. The site continued operating for nearly three months, trapping hundreds of new victims. Cybercrime units cite a shortage of trained personnel and lack of coordination between state and central agencies as major hurdles in quick response.
Need for Stronger Cyber Policing
Experts say the growing sophistication of digital fraud calls for urgent reforms in India’s cyber law enforcement. The use of AI, deepfakes, and automated systems gives criminals a constant advantage. Without advanced training, faster site takedowns, and better coordination among agencies, cybercriminals will continue to outpace investigators. The case of Sumit Kumar serves as a stark reminder that in today’s digital economy, even a casual click or “like” can turn into a multimillion-rupee trap.
