The institutional separation between political misinformation and financial fraud has always been more administrative than technical — both depend on making fabricated content pass as authentic. What the Ahmedabad loan case establishes is that the gap has closed entirely: the same generative tools used to produce Iran-linked propaganda videos are now documented inside financial crime investigations. Fraud operators do not need to build new infrastructure; they inherit the capability that political actors normalized. The compliance teams at credit unions writing new deepfake policies this spring are not responding to a…