#FactCheck: Viral AI Video Showing Finance Minister of India endorsing an investment platform offering high returns.

Executive Summary:

A video currently circulating on social media falsely claims to show the aftermath of an Indian Navy attack on Karachi Port, allegedly involving the INS Vikrant. Upon verification, it has been confirmed that the video is unrelated to any naval activity and in fact depicts a plane crash that occurred in Philadelphia, USA. This misrepresentation underscores the importance of verifying information through credible sources before drawing conclusions or sharing content.

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Claim:

Social media accounts shared a video claiming that the Indian Navy’s aircraft carrier, INS Vikrant, attacked Karachi Port amid rising India-Pakistan tensions. Captions such as “INDIAN NAVY HAS DESTROYED KARACHI PORT” accompanied the footage, which shows a crash site with debris and small fires.

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Fact Check:

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After reverse image search we found that the viral video to earlier uploads on Facebook and X (formerly Twitter) dated February 2, 2025. The footage is from a plane crash in Philadelphia, USA, involving a Mexican-registered Learjet 55 (tail number XA-UCI) that crashed near Roosevelt Mall. 

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Major American news outlets, including  ABC7, reported the incident on February 1, 2025. According to NBC10 Philadelphia, the crash resulted in the deaths of seven individuals, including one child.

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Conclusion:

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The viral video claiming to show an Indian Navy strike on Karachi Port involving INS Vikrant is entirely misleading. The footage is from a civilian plane crash that occurred in Philadelphia, USA, and has no connection to any military activity or recent developments involving the Indian Navy. Verified news reports confirm the incident involved a Mexican-registered Learjet and resulted in civilian casualties. This case highlights the ongoing issue of misinformation on social media and emphasizes the need to rely on credible sources and verified facts before accepting or sharing sensitive content, especially on matters of national security or international relations.

• Claim: INS Vikrant, attacked Karachi Port amid rising India-Pakistan tensions
• Claimed On:  Social Media
• Fact Check: False and Misleading

Introduction 

Digitalization in India has been a transformative force, India is also marked as the second country in the world in terms of active internet users. With this adoption of digitalization and technology, the country is becoming a digitally empowered society and knowledge-based economy. However, the number of cyber crimes in the country has also seen a massive spike recently with the sophisticated cyber attacks and manipulative techniques being used by cybercriminals to lure innocent individuals and businesses. 

As per recent reports, over 740,000 cybercrime cases were reported to the I4C, in the first four months of 2024, which raises serious concern on the growing nature of cyber crimes in the country. Recently Prime Minister Modi in his Mann Ki Baat address, cautioned the public about a particular rising cyber scam known as ‘digital arrest’ and highlighted the seriousness of the issue and urged people to be aware and alert about such scams to counter them. The government has been keen on making efforts to reduce and combat cyber crimes by introducing new measures and strengthening the regulatory landscape governing cyberspace in India.

Indian Cyber Crime Coordination Centre  

Indian Cybercrime Coordination Centre (I4C) was established by the Ministry of Home Affairs  (MHA) to provide a framework and eco-system for law enforcement agencies (LEAs) to deal with cybercrime in a coordinated and comprehensive manner. I4C handles the ‘National Cyber Crime Reporting Portal’ (https://cybercrime.gov.in) and the 1930 Cyber Crime Helpline. Recently at the Indian Cyber Crime Coordination Centre (I4C) Foundation Day celebration, Union Home Minister Amit Shah launched the Cyber Fraud Mitigation Centre (CFMC), Samanvay platform (Joint Cybercrime Investigation Facilitation System), 'Cyber Commandos' program and Online Suspect Registry as efforts to combat the cyber crimes, establish cyber resilence and awareness and strengthening capabilities of law enforcement agencies.

Regulatory landscape Governing Cyber Crimes 

Information Technology Act, 2000 (IT Act) and the rules made therein, the Intermediary Guidelines, Digital Personal Data Protection Act, 2023 and Bhartiya Nyay Sanhita, 2023 are the major legislation in India governing Cyber Laws.  

CyberPeace Recommendations

There has been an alarming uptick in cybercrimes in the country highlighting the need for proactive approaches to counter these emerging threats. The government should prioritise its efforts by introducing robust policies and technical measures to reduce cybercrime in the country. The law enforcement agencies' capabilities must be strengthened with advanced technologies to deal with cyber crimes especially considering the growing sophisticated nature of cyber crime tactics used by cyber criminals. 

The netizens must be aware of the manipulative tactics used by cyber criminals to target them. Social media companies must also implement robust measures on their respective platforms to counter and prevent cyber crimes. Coordinated approaches by all relevant authorities, including law enforcement, cybersecurity agencies, and regulatory bodies, along with increased awareness and proactive engagement by netizens, can significantly reduce cyber threats and online criminal activities. 

References

• https://www.statista.com/statistics/1499739/india-cyber-crime-cases-reported-to-i4c/#:~:text=Cyber%20crime%20cases%20registered%20by%20I4C%20India%202019%2D2024&text=Over%20740%2C000%20cases%20of%20cyber,related%20to%20online%20financial%20fraud
• https://www.deccanherald.com/india/parliament-panel-to-examine-probe-agencies-efforts-to-tackle-cyber-crime-illegal-immigration-3270314
• https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2003158

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Introduction

Significantly, in March 2023, the Prevention of Money Laundering Act, 2002's regulations placed Virtual Digital Asset Service Providers functioning located under the purview of the Anti Money Laundering/Counter Financing of Terrorism (AML-CFT) scheme. An important step toward controlling VDA SP operations and guaranteeing adherence to Anti-Money Laundering and Combating the Financing of Terrorism (AML-CFT) regulations.

The significance of AML-CFT procedures

The AML-CFT framework's incorporation of Virtual Digital Asset Service Providers (VDA SPs) is essential for protecting the banking industry from illegal activities including the laundering of funds and counter-financing of terrorist attacks. These regulations become more crucial as the market for digital assets develops and becomes more well-known.

The practice of money laundering is hiding the source of the sum received illegally, thus it's critical to have strict policies in place to track down and stop these kinds of operations. Furthermore, funding for terrorism is a serious danger to international safety, hence stopping the flow of money to terrorist companies is a top concern for global officials.

The goal of policymakers' move to include VDA SPs in the AML-CFT architecture is to set up control and surveillance procedures that will guarantee these organisations' open and honest operations. This involves tracking transactions, flagging questionable activity, and conducting extensive customer investigations. Incorporating such procedures not only reduces the potential for financial crimes but also builds confidence and trust in the electronic asset market.

It is important to see the significance of AML-CFT procedures and the changes in the legal framework to reflect the evolving characteristics of digital currencies. These procedures are essential to preserving the reliability and safety of the wider banking system.

Notifications of Compliance Show Cause

Under Section 13 of the PMLA Act 2002, FIU IND sent adherence Show Cause Notices to nine offshore Virtual Digital Asset Service Providers (VDA SPs) as part of its dedication to upholding compliance with regulations. This affirmative step requires organisations to be scrutinised and attempted to bring them under inspection.

Governmental Response

The Director of FIU IND has addressed the Secretary of the Ministry of Electronics and Information Technology to take further measures due to the disregard of offshore firms. According to the notification, URLs connected to these organisations that operate in India in violation of the PML Act's requirements must be blocked. 

Mandatory Registration for VDA SPs

Virtual Digital Asset Service Providers (both onshore and offshore) who perform a range of operations, including the trading of digital goods for monetary currencies, the distribution of digital currency, and the management or preservation of electronic assets, are now obliged to register with FIU.

Range of Statutory Responsibilities

In accordance with the PML Act, VDA SPs are subject to several requirements, including documentation, disclosure, and other duties. One of their responsibilities is to register with the FIU IND. The primary focus is on guaranteeing that VDA SPs comply with AML-CFT protocols, hence enhancing the general reliability of the banking industry.

Difficulties with Offshore Compliance

There are many obstacles in guaranteeing that offshore organisations comply with Anti Money Laundering/Counter Financing of Terrorism (AML-CFT), chief amongst them being their unwillingness to undergo registration. Some overseas Virtual Digital Asset Service Providers (VDA SPs) have been reluctant to comply with the existing rules and regulations, even though they cater to a significant number of Indian users. There are several reasons for this hesitation, such as worries about heightened monitoring, the expense of compliance, and the apparent complexity of governmental processes. Regulatory organisations have taken steps to close the discrepancy between offshore businesses' real activities and the regulations they must follow. In addition to maintaining the trustworthiness of the economic system, resolving the issues with offshore adherence is essential for promoting confidence and openness in the market for electronic assets.

Conclusion

FIU IND has demonstrated its dedication to creating an effective regulatory framework for Virtual Digital Asset Service Providers through its recent measures. India hopes to fortify its countermeasures against money laundering and safeguard the financial well-being of its users by expanding the AML-CFT legislation to offshore firms. The continuous efforts to restrict the URLs of non-compliant companies show a proactive approach to stopping illicit activity and fostering a safe and law-abiding virtual asset ecosystem. The safety and soundness of the banking sector will be crucially maintained by laws and regulations as the digital world develops.

References

• https://pib.gov.in/PressReleasePage.aspx?PRID=1991372
• https://www.thehindubusinessline.com/books/reviews/business-economy/fiu-ind-issues-compliance-showcause-notices-to-nine-offshore-vda-sps/article67684613.ece
• https://business.outlookindia.com/news/fiu-issues-notice-to-9-offshore-crypto-platforms-writes-to-meity-for-blocking-of-urls