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BSE Warns of Resurfaced Deepfake Video Scam Using CEO's Identity

The Bombay Stock Exchange has issued a high-priority advisory warning investors about a resurfaced fraudulent deepfake video. The manipulated footage falsely features BSE's Managing Director & CEO, Sundararaman Ramamurthy, offering stock market tips and promising extraordinary returns. BSE categorically states that neither Ramamurthy nor any official endorses such content or operates investment advice groups on platforms like WhatsApp. The exchange urges the public to rely only on its official channels for authentic information and to remain vigilant against such digital scams.

Key Points: BSE Warns Investors of Fraudulent Deepfake Video Scam

  • Deepfake video resurfaces on social media
  • Falsely features BSE MD & CEO
  • Promises fake stock tips and returns
  • BSE clarifies it is a malicious scam
2 min read

BSE cautions investors against resurfaced deepfake video misusing MD & CEO's identity

Bombay Stock Exchange cautions public against a resurfaced deepfake video falsely featuring its CEO offering stock tips. Learn how to stay safe.

"The video falsely features Mr. Sundararaman Ramamurthy... and claims to offer stock market tips and investment advice. - BSE Official Statement"

New Delhi, March 8

The Bombay Stock Exchange has issued a high-priority public advisory for investors. The exchange has warned against a fraudulent deepfake video that has once again begun circulating across various social media and messaging platforms.

This is not the first time this video has appeared. Despite previous efforts to scrub the content from the internet, the BSE noted that the fraudulent footage has "resurfaced multiple times."

"BSE Limited has become aware that a previously circulated fraudulent deepfake video has once again resurfaced across multiple social media and messaging platforms," said BSE.

Bombay Stock Exchange released an official statement today informing that "The video falsely features Mr. Sundararaman Ramamurthy, Managing Director & CEO, BSE, and claims to offer stock market tips and investment advice."

BSE categorically clarifies that the video is fake, manipulated and maliciously created using deepfake technology to mislead investors. The claims made in the video, including promises of extraordinary returns and invitations to join WhatsApp groups for stock tips, are completely false and intended to defraud the public.

BSE reiterates that neither Ramamurthy nor any BSE official provides stock tips or investment recommendations.

Additionally, BSE officials do not operate or endorse WhatsApp, Telegram, or similar groups offering investment advice, the statement noted.

While BSE is taking all necessary steps to remove such content, including working closely with law enforcement agencies and relevant platforms, such fraudulent videos have resurfaced multiple times across social media.

BSE also informed that the investors and public must be vigilant towards such posts on social media.

"In today's digital and social media environment, investors and the public must remain vigilant and not believe or act upon such misleading content and false claims."

"For authentic information and updates, investors are advised to follow only the official BSE website and verified BSE social media handles," the release added.

"Stay vigilant. Do not fall prey to deepfake investment scams."

- ANI

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Reader Comments

R
Rohit P
Deepfake technology is becoming a real menace. If they can fake the CEO of BSE, who can we trust? The government needs much stricter laws and faster takedown mechanisms. Just issuing advisories isn't enough when these videos keep resurfacing.
A
Aman W
Good reminder. Always check the source. Official websites ending with .gov.in or the company's verified domain are the only ones to trust. Never click links from random forwards, no matter how convincing the video looks.
S
Sarah B
As a new investor, this is terrifying. The market is complex enough without having to worry about frauds like this. I'm glad BSE is being clear: no official gives stock tips. If it sounds too good to be true, it probably is.
V
Vikram M
Respectfully, while the advisory is good, the fact that it has "resurfaced multiple times" shows the response isn't effective. BSE and regulators need to work with tech companies on better detection and permanent removal. Public awareness campaigns on TV and radio would also help reach those not online.
K
Kavya N
My father received this video on WhatsApp! He was so excited thinking he got insider info. Thank God he checked with me first. Please educate the elders in your family about deepfakes. They are the most vulnerable targets.

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