BSE Warns Investors Against Deepfake Videos Involving CEO Recommending Stocks

BSE Deepfake Videos: The BSE issued a warning to investors on Thursday, cautioning them against deepfake videos featuring its Managing Director and CEO Sundararaman Ramamurthy. The fraudulent videos, which utilise advanced technology to impersonate Ramamurthy, have been circulating on social media and include misleading stock recommendations.

In an official statement, the BSE mentioned that neither the CEO nor any other officials initiate or endorse such communications through Facebook or other social media platforms. The exchange strongly advised investors to disregard these videos and audios, as well as any unsolicited communication that may impersonate Ramamurthy or other BSE officials.

BSE Clarification

“In the meantime, investors/public are urged not to join any group on social media platforms impersonating BSE or its officials and also not rely on any stock/share recommendation. BSE also advises investors/public to exercise caution and not to engage or re-circulate such fraudulent messages and not to share any personal and/or confidential information, financial or otherwise,” the exchange stated.

The BSE is taking steps to address the misrepresentation and protect its reputation, urging the public to avoid engaging with or sharing fraudulent content. The exchange stressed the importance of verifying the source of any communication and only relying on information from official channels, such as the BSE website and its verified social media handles.

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Additionally, BSE employees are not authorised to recommend or deal in specific stocks. Investors are advised to exercise caution and refrain from sharing personal or confidential information in response to deceptive communications.

NSE Deepfake Video

This cautionary statement follows a similar warning issued by the National Stock Exchange (NSE) on April 10, which addressed deepfake videos impersonating its MD and CEO Ashishkumar Chauhan.

Deepfakes, which are manipulated videos or digital representations, pose a risk of spreading misinformation and harming reputations. The BSE urges investors to remain vigilant against such deceptive practices and to seek information from credible sources.