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BSE CEO Deepfake Sparks Investor Alert
12 Jan
Summary
- BSE CEO's deepfake video falsely gives stock recommendations on social media.
- The fraudulent video promises super-normal profits and directs users to WhatsApp.
- BSE is taking legal action and seeking removal of the fake content.
BSE Limited, India's premier exchange, is alerting investors to a malicious deepfake video circulating on social media. The fabricated content falsely impersonates Managing Director & CEO Sundararaman Ramamurthy, offering purported stock recommendations and investment advice, with promises of substantial profits by 2027. This unauthorized video also urges viewers to join a specific WhatsApp channel, a tactic designed to deceive the public.
The exchange has clarified that neither the CEO nor any BSE official provides stock tips or investment advice through any unofficial channels, including social media groups. The doctored video is a deceptive use of deepfake technology, containing misleading claims and false promises to lure unsuspecting investors. BSE is committed to protecting its stakeholders from such fraudulent activities.
BSE is taking immediate steps to have the fraudulent content removed from social media platforms and has initiated legal proceedings against the perpetrators. Investors are strongly advised to rely solely on official communications from BSE and SEBI-registered intermediaries for market-related information and to disregard any unofficial investment advice.
