Deepfake scam rattles Sky Gold as subsidiary suffers Rs 11 crore loss after unauthorised fund transfer

Sky Gold disclosed that one of its subsidiaries suffered a loss of around Rs 11 crore due to a deepfake-enabled cyber fraud. Unknown persons gained unauthorized access to a company-issued mobile phone and laptop, impersonated a subsidiary director, and convinced an employee to process fund transfers to unknown bank accounts. The subsidiary has filed a complaint with the National Cyber Crime Helpline and the Cyber Crime Police Station, and is working with banks to trace and freeze the beneficiary accounts to recover the funds.