#FactCheck: AI-Generated Audio Falsely Claims COAS Admitted to Loss of 6 Jets and 250 Soldiers

Introduction
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Generative AI, particularly deepfake technology, poses significant risks to security in the financial sector. Deepfake technology can convincingly mimic voices, create lip-sync videos, execute face swaps, and carry out other types of impersonation through tools like DALL-E, Midjourney, Respeecher, Murf, etc, which are now widely accessible and have been misused for fraud. For example, in 2024, cybercriminals in Hong Kong used deepfake technology to impersonate the Chief Financial Officer of a company, defrauding it of $25 million. Surveys, including Regula’s Deepfake Trends 2024 and Sumsub reports, highlight financial services as the most targeted sector for deepfake-induced fraud.

Deepfake Technology and Its Risks to Financial Systems

India’s financial ecosystem, including banks, NBFCs, and fintech companies, is leveraging technology to enhance access to credit for households and MSMEs. The country is a leader in global real-time payments and its digital economy comprises 10% of its GDP.  However, it faces unique cybersecurity challenges. According to the RBI’s 2023-24 Currency and Finance report, banks cite cybersecurity threats, legacy systems, and low customer digital literacy as major hurdles in digital adoption. Deepfake technology intensifies risks like:

• Social Engineering Attacks: Information security breaches through phishing, vishing, etc. become more convincing with deepfake imagery and audio.
• Bypassing Authentication Protocols: Deepfake audio or images may circumvent voice and image-based authentication systems, exposing sensitive data.
• Market Manipulation: Misleading deepfake content making false claims and endorsements can harm investor trust and damage stock market performance.
• Business Email Compromise Scams: Deepfake audio can mimic the voice of a real person with authority in the organization to falsely authorize payments.
• Evolving Deception Techniques: The usage of AI will allow cybercriminals to deploy malware that can adapt in real-time to carry out phishing attacks and inundate targets with increased speed and variations. Legacy security frameworks are not suited to countering automated attacks at such a scale.

Existing Frameworks and Gaps

In 2016, the RBI introduced cybersecurity guidelines for banks, neo-banking, lending, and non-banking financial institutions, focusing on resilience measures like Board-level policies, baseline security standards, data leak prevention, running penetration tests, and mandating Cybersecurity Operations Centres (C-SOCs). It also mandated incident reporting to the RBI for cyber events. Similarly, SEBI’s Cybersecurity and Cyber Resilience Framework (CSCRF) applies to regulated entities (REs) like stock brokers, mutual funds, KYC agencies, etc., requiring policies, risk management frameworks, and third-party assessments of cyber resilience measures. While both frameworks are comprehensive, they require updates addressing emerging threats from generative AI-driven cyber fraud.

Cyberpeace Recommendations 

• AI Cybersecurity to Counter AI Cybercrime: AI-generated attacks can be designed to overwhelm with their speed and scale. Cybercriminals increasingly exploit platforms like LinkedIn, Microsoft Teams, and Messenger, to target people.  More and more organizations of all sizes will have to use AI-based cybersecurity for detection and response since generative AI is becoming increasingly essential in combating hackers and breaches.
• Enhancing Multi-factor Authentication (MFA):  With improving image and voice-generation/manipulation technologies, enhanced authentication measures such as token-based authentication or other hardware-based measures, abnormal behaviour detection, multi-device push notifications, geolocation verifications, etc. can be used to improve prevention strategies.  New targeted technological solutions for content-driven authentication can also be implemented.
• Addressing Third-Party Vulnerabilities: Financial institutions often outsource operations to vendors that may not follow the same cybersecurity protocols, which can introduce vulnerabilities. Ensuring all parties follow standardized protocols can address these gaps.
• Protecting Senior Professionals: Senior-level and high-profile individuals at organizations are at a greater risk of being imitated or impersonated since they hold higher authority over decision-making and have greater access  to sensitive information. Protecting their identity metrics through technological interventions is of utmost importance.
• Advanced Employee Training:  To build organizational resilience, employees must be trained to understand how generative and emerging technologies work. A well-trained workforce can significantly lower the likelihood of successful human-focused human-focused cyberattacks like phishing and impersonation.
• Financial Support to Smaller Institutions: Smaller institutions may not have the resources to invest in robust long-term cybersecurity solutions and upgrades. They require financial and technological support from the government to meet requisite standards.

Conclusion

According to The India Cyber Threat Report 2025 by the Data Security Council of India (DSCI) and Seqrite, deepfake-enabled cyberattacks, especially in the finance and healthcare sectors, are set to increase in 2025. This has the potential to disrupt services, steal sensitive data, and exploit geopolitical tensions, presenting a significant risk to the critical infrastructure of India. 

As the threat landscape changes,  institutions will have to continue to embrace AI and Machine Learning (ML) for threat detection and response. The financial sector must prioritize robust cybersecurity strategies, participate in regulation-framing procedures, adopt AI-based solutions, and enhance workforce training, to safeguard against AI-enabled fraud. Collaborative efforts among policymakers, financial institutions, and technology providers will be essential to strengthen defenses.

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Sources 

• https://sumsub.com/newsroom/deepfake-cases-surge-in-countries-holding-2024-elections-sumsub-research-shows/ 
• https://www.globenewswire.com/news-release/2024/10/31/2972565/0/en/Deepfake-Fraud-Costs-the-Financial-Sector-an-Average-of-600-000-for-Each-Company-Regula-s-Survey-Shows.html 
• https://www.sipa.columbia.edu/sites/default/files/2023-05/For%20Publication_BOfA_PollardCartier.pdf 
• https://edition.cnn.com/2024/02/04/asia/deepfake-cfo-scam-hong-kong-intl-hnk/index.html 
• https://www.rbi.org.in/Commonman/English/scripts/Notification.aspx?Id=1721 
• https://elplaw.in/leadership/cybersecurity-and-cyber-resilience-framework-for-sebi-regulated-entities/ 
• https://economictimes.indiatimes.com/tech/artificial-intelligence/ai-driven-deepfake-enabled-cyberattacks-to-rise-in-2025-healthcarefinance-sectors-at-risk-report/articleshow/115976846.cms?from=mdr 

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18th November 2022 CyberPeace Foundation in association with Universal Acceptance has successfully conducted the workshop on Universal Acceptance and Multilingual Internet for the students and faculties of Royal Global University under CyberPeace Center of Excellence (CCoE). CyberPeace Foundation has always been engaged towards the aim of spreading awareness regarding the various developments, avenues, opportunities and threats regarding cyberspace. The same has  been the keen principle of the CyberPeace Centre of Excellence setup in collaboration with various esteemed educational institutes. We at CyberPeace Foundation would like to take the collaborations and our efforts to a new height of knowledge and awareness by proposing a workshop on UNIVERSAL ACCEPTANCE AND MULTILINGUAL INTERNET. This workshop was instrumental in providing the academia and research community a wholesome outlook towards the multilingual spectrum of internet including Internationalized domain names and email address Internationalization.

‍Date –18th November 2022

‍Time – 10:00 AM to 12:00 PM

‍Duration – 2 hours

‍Mode - Online

‍Audience – Academia and Research Community

‍Participants Joined- 130

‍Crowd Classification - Engineering students (1st and 4th year, all streams) and Faculties members

‍Organizer : Mr. Harish Chowdhary : UA Ambassador Moderator: Ms. Pooja Tomar, Project coordinator cum trainer

‍GuestSpeakers:Mr. Abdalmonem Galila, Abdalmonem: Vice Chair , Universal Acceptance Steering Group (UASG) ,Mr. Mahesh D Kulkarni: Director, Evaris Systems and Former Senior Director, CDAC, Government of India, Mr. Akshat Joshi, Founder Think Trans First session was delivered by Mr. Abdalmonem Galila, Abdalmonem: Vice Chair , Universal Acceptance Steering Group (UASG) “Universal Acceptance( UA) and why UA matters?”

• What is universal acceptance?
• UA is cornerstone to a digitally inclusive internet by ensuring all domain names and email addresses in all languages, script and character length.
• Achieving UA ensures that every person has the ability to navigate the internet.
• Different UA issues were also discussed and explained.
• Tagated systems by the UA and implication were discussed in detail.

Second Session was delivered by Mr. Akshat Joshi, Founder Think Trans on “Universal Acceptance to the IDNsand the economic Landscape”

• What is Universal Acceptance?
• The internet has had standards that allow people to use domain names and email addresses in their native scripts. Software developers need to bring their applications up-to-date so that consumers can use their chosen identity.
• A typical problem is that an IDN email address is not recognised by a website form as a valid email address.
• The importance of adopting IDNs z Enable citizens to use their own identity online (correct spelling, native language) z Relates to language, culture and content z Promotes local and regional content z Allows businesses and politicians to better target their messages.

Third session was delivered by Mr. Mahesh D Kulkarni, ES Director Evaris on the topic of “IDNs in Indian languages perspective- challenges and solutions”.

• The multilingual diversity of India was focused on and its impact.
• Most students were not aware of what Unicode, IDNS is and their usage.
• Students were briefed by giving real time examples on IDN, Domain name implementation using local language.
• In depth knowledge of and practical exposure of Universal Acceptance and Multilingual Internet has been served to the students.
• Tools and Resources for Domain Name and Domain Languages were explained.
• Languages nuances of Multilingual diversity of India explained with real time facts and figures.
• Given the idea of IDN Email,Homograph attack,Homographic variant with proper real time examples.
• Explained about the security threats and IDNA protocols.
• Given the explanation on ABNF.
• Explained the stages of Universal Acceptance.

Introduction

Misinformation poses a significant challenge to public health policymaking since it undermines efforts to promote effective health interventions and protect public well-being. The spread of inaccurate information, particularly through online channels such as social media and internet platforms, further complicates the decision-making process for policymakers since it perpetuates public confusion and distrust. This misinformation can lead to resistance against health initiatives, such as vaccination programs, and fuels scepticism towards scientifically-backed health guidelines.

Before the COVID-19 pandemic, misinformation surrounding healthcare largely encompassed the effects of alcohol and tobacco consumption, marijuana use, eating habits, physical exercise etc. However, there has been a marked shift in the years since. One such example is the outcry against palm oil in 2024: it is an ingredient prevalent in numerous food and cosmetic products, and came under the scanner after a number of claims that palmitic acid, which is present in palm oil, is detrimental to our health. However, scientific research by reputable institutions globally established that there is no cause for concern regarding the health risks posed by palmitic acid. Such trends and commentaries tend to create a parallel unscientific discourse that has the potential to not only impact individual choices but also public opinion and as a result, market developments and policy conversations. 

A prevailing narrative during the worst of the Covid-19 pandemic was that the virus had been engineered to control society and boost hospital profits. The extensive misinformation surrounding COVID-19 and its management and care increased vaccine hesitancy amongst people worldwide. It is worth noting that vaccine hesitancy has been a consistent trend historically; the World Health Organisation flagged vaccine hesitancy as one of the main threats to global health, and there have been other instances where a majority of the population refused to get vaccinated anticipating unverified, long-lasting side effects. For example, research from 2016 observed a significant level of public skepticism regarding the development and approval process of the Zika vaccine in Africa. Further studies emphasised the urgent need to disseminate accurate information about the Zika virus on online platforms to help curb the spread of the pandemic. 

In India during the COVID-19 pandemic, despite multiple official advisories, notifications and guidelines issued by the government and ICMR, people continued to remain opposed to vaccination, which resulted in inflated mortality rates within the country. Vaccination hesitancy was also compounded by anti-vaccination celebrities who claimed that vaccines were dangerous and contributed in large part to the conspiracy theories doing the rounds. Similar hesitation was noted in misinformation surrounding the MMR vaccines and their likely role in causing autism was examined.  At the time of the crisis, the Indian government also had to tackle disinformation-induced fraud surrounding the supply of oxygens in hospitals. Many critically-ill patients relied on fake news and unverified sources that falsely portrayed the availability of beds, oxygen cylinders and even home set-ups, only to be cheated out of money. 

The above examples highlight the difficulty health officials face in administering adequate healthcare. The special case of the COVID-19 pandemic also highlighted how current legal frameworks failed to address misinformation and disinformation, which impedes effective policymaking. It also highlights how taking corrective measures against health-related misinformation becomes difficult since such corrective action creates an uncomfortable gap in an individual’s mind, and it is seen that people ignore accurate information that may help bridge the gap. Misinformation, coupled with the infodemic trend, also leads to false memory syndrome, whereby people fail to differentiate between authentic information and fake narratives. Simple efforts to correct misperceptions usually backfire and even strengthen initial beliefs, especially in the context of complex issues like healthcare. Policymakers thus struggle with balancing policy making and making people receptive to said policies in the backdrop of their tendencies to reject/suspect authoritative action. Examples of the same can be observed on both the domestic front and internationally. In the US, for example, the traditional healthcare system rations access to healthcare through a combination of insurance costs and options versus out-of-pocket essential expenses. While this has been a subject of debate for a long time, it hadn’t created a large scale public healthcare crisis because the incentives offered to the medical professionals and public trust in the delivery of essential services helped balance the conversation. In recent times, however, there has been a narrative shift that sensationalises the system as an issue of deliberate “denial of care,” which has led to concerns about harms to patients.

Policy Recommendations

The hindrances posed by misinformation in policymaking are further exacerbated against the backdrop of policymakers relying on social media as a method to measure public sentiment, consensus and opinions. If misinformation about an outbreak is not effectively addressed, it could hinder individuals from adopting necessary protective measures and potentially worsen the spread of the epidemic. To improve healthcare policymaking amidst the challenges posed by health misinformation, policymakers must take a multifaceted approach. This includes convening a broad coalition of central, state, local, territorial, tribal, private, nonprofit, and research partners to assess the impact of misinformation and develop effective preventive measures. Intergovernmental collaborations such as the Ministry of Health and the Ministry of Electronics and Information Technology should be encouraged whereby doctors debunk online medical misinformation, in the backdrop of the increased reliance on online forums for medical advice. Furthermore, increasing investment in research dedicated to understanding misinformation, along with the ongoing modernization of public health communications, is essential. Enhancing the resources and technical support available to state and local public health agencies will also enable them to better address public queries and concerns, as well as counteract misinformation. Additionally, expanding efforts to build long-term resilience against misinformation through comprehensive educational programs is crucial for fostering a well-informed public capable of critically evaluating health information.

From an individual perspective, since almost half a billion people use WhatsApp it has become a platform where false health claims can spread rapidly. This has led to a rise in the use of fake health news. Viral WhatsApp messages containing fake health warnings can be dangerous, hence it is always recommended to check such messages with vigilance. This highlights the growing concern about the potential dangers of misinformation and the need for more accurate information on medical matters.

Conclusion

The proliferation of misinformation in healthcare poses significant challenges to effective policymaking and public health management. The COVID-19 pandemic has underscored the role of misinformation in vaccine hesitancy, fraud, and increased mortality rates. There is an urgent need for robust strategies to counteract false information and build public trust in health interventions; this includes policymakers engaging in comprehensive efforts, including intergovernmental collaboration, enhanced research, and public health communication modernization, to combat misinformation. By fostering a well-informed public through education and vigilance, we can mitigate the impact of misinformation and promote healthier communities.

References

1. van der Meer, T. G. L. A., & Jin, Y. (2019), “Seeking Formula for Misinformation Treatment in Public Health Crises: The Effects of Corrective Information Type and Source” Health Communication, 35(5), 560–575. https://doi.org/10.1080/10410236.2019.1573295 
2. “Health Misinformation”, U.S. Department of Health and Human Services. https://www.hhs.gov/surgeongeneral/priorities/health-misinformation/index.html 
3. Mechanic, David, “The Managed Care Backlash: Perceptions and Rhetoric in Health Care Policy and the Potential for Health Care Reform”, Rutgers University. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2751184/pdf/milq_195.pdf 
4. “Bad actors are weaponising health misinformation in India”, Financial Express, April 2024.

https://www.financialexpress.com/life/entertainment-bad-actors-are-weaponising-health-misinformation-in-india-3448871/ 

5. “Role of doctors in eradicating misinformation in the medical sector.”, Times of India, 1 July 2024. https://timesofindia.indiatimes.com/life-style/health-fitness/health-news/national-doctors-day-role-of-doctors-in-eradicating-misinformation-in-the-healthcare-sector/articleshow/111399098.cms 

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