AIIC AI Intelligence Centre

SOURCE-LINKED INTELLIGENCE

Purported Deepfake Impersonation of Starmangalsutra Director Reportedly Led to ₹10.70 Crore (Approximately US$1.11 Million) in Unauthorized Fund Transfers

AI Incident Database · article · Jul 17, 2026 · UTC

Starmangalsutra Private Limited, a jewelery-manufacturing subsidiary of India-based Sky Gold and Diamonds, reportedly lost ₹10.70 crore (about US$1.1 million) after unknown actors compromised a company-issued phone and laptop and used purported deepfake methods to impersonate a director. An employee, reportedly believing the instructions were genuine, transferred funds to unknown bank accounts before verification showed the director had issued no such instructions.

Read original source ↗ Open in workspace

recordType
incident-report
evidenceStatus
reported
region
Global

Reported occurrence date: 2026-07-15T00:00:00.000Z

Evidence & attribution

AI Incident Database, Responsible AI Collaborative; McGregor (2021), Preventing Repeated Real World AI Failures by Cataloging Incidents. Incident-specific contributor credits are available at each citation link. Metadata adapted; article text excluded.

License: CC BY-SA 4.0

First collected: 2026-09-19T22:50:59.123Z. This is not the publication date.

Observed changes

AIIC observation times, not verified publisher revision times. Up to eight recent revisions.

2026-09-20T23:22:28.549Z

  • publishedAt: Not provided2026-07-17T00:00:00.000Z