FaceOff Technologies and NACOF Sign MoU to Combat Deepfake and AI-Driven Fraud in Cooperative Banking Sector

Partnership will deploy FaceOff's Sovereign AI platform, secured with Post-Quantum Cryptography, to protect cooperative banks from synthetic identity fraud

3rd July, New Delhi— FaceOff Technologies, a Sovereign AI company specializing in deepfake detection and synthetic identity fraud prevention, today signed a Memorandum of Understanding with the National Federation of Farmers Procurement, Processing and Retailing Cooperative of India Ltd. (NACOF), a national federation representing farmer-owned cooperative societies across India. The MoU aims to help cooperative banks and allied organizations counter the rising threat of deepfakes, synthetic identity fraud, and AI-generated fraud.

Under the agreement, NACOF-affiliated cooperative banks and organizations will gain access to FaceOff's Sovereign AI platform, which is built on Post-Quantum Cryptography to secure identity verification and fraud-detection systems against both current and future cryptographic threats.

The MoU was signed by Ram Iqbal Singh, Founder & Chairman of NACOF, and Dr. Deepak Kumar Sahu, Founder & CEO of FaceOff Technologies, in the presence of Dr. Arindam Sarkar, Chief Architect at FaceOff Technologies.

"Cooperative banks form the backbone of financial access for millions of farmers and rural communities across India, and that reach also makes them a target for increasingly sophisticated fraud. This partnership with FaceOff Technologies gives our member institutions access to world-class tools to protect their members from deepfake and identity-based fraud, without compromising the trust that cooperative banking is built on," said Singh.

"Deepfakes and synthetic identity fraud are no longer theoretical risks for financial institutions — they are happening today, and cooperative banks, given their scale and reach into rural India, are particularly exposed. Through this partnership with NACOF, we are bringing our Sovereign AI platform, backed by Post-Quantum Cryptography, directly to the institutions that need it most. Our goal is to make trust and identity verification infrastructure that is not just reactive, but resilient against the next generation of AI-driven threats," said Sahu.

The collaboration comes as financial institutions across India face a sharp rise in AI-generated fraud, including deepfake-based impersonation and synthetic identity schemes that target Know Your Customer (KYC) and onboarding processes. Cooperative banks, which often serve rural and semi-urban populations with limited fraud-detection infrastructure, have been identified as particularly vulnerable to such attacks.

About NACOF

The National Federation of Farmers Procurement, Processing and Retailing Cooperative of India Ltd. (NACOF) is a national body representing farmer-owned cooperative societies engaged in procurement, processing, and retailing across India.

About FaceOff Technologies

FaceOff Technologies is a Sovereign AI company specializing in deepfake detection, synthetic identity fraud prevention, and trust and safety infrastructure for banking, insurance, government, and enterprise clients. More information is available at faceoff.world.