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BSE Warns of 4th Deepfake Video of CEO Ramamurthy Offering Stock Tips

BSE has issued a warning about a fourth deepfake video of its CEO Sundararaman Ramamurthy circulating online. The fabricated video falsely promotes stock market tips and guaranteed returns to mislead investors. BSE clarified that neither Ramamurthy nor any exchange official provides such advice or runs messaging groups. The exchange is taking legal action and urging public caution against such fraudulent content.

Key Points: BSE Warns of 4th Deepfake Video of CEO

  • Fourth deepfake video of BSE CEO Ramamurthy in four months
  • Video falsely shows him offering stock tips and guaranteed returns
  • BSE clarifies no official provides investment advice or runs messaging groups
  • Exchange urges caution and will pursue legal action
2 min read

BSE warns investors against 4th fake deepfake video of CEO Ramamurthy promoting investment advice

BSE warns investors about a 4th fake deepfake video of CEO Sundararaman Ramamurthy promoting stock tips and investment advice. Avoid sharing.

"Neither Ramamurthy nor any official of the exchange provides stock tips, investment advice, or runs any messaging groups or channels. - BSE"

Mumbai, April 24

India's stock exchange BSE Limited on Friday warned investors about the resurfacing of a fraudulent deepfake video circulating on social media and messaging platforms, which falsely shows its Managing Director and CEO, Sundararaman Ramamurthy, purportedly offering stock market tips and investment advice.

Regarding this, the exchange has clarified that the video is entirely fabricated and malicious, using deepfake technology to mislead investors by making false claims of guaranteed and extraordinary returns.

Moreover, the content also urges viewers to invest in select stocks for quick gains and to join private WhatsApp or Telegram groups for so-called 'exclusive' tips.

Meanwhile, BSE said this is the fourth such incident in the past four months, indicating a repeated and concerning pattern of misuse of the institution's and its MD & CEO's credibility.

The exchange noted that scammers are increasingly attempting to exploit public trust to target unsuspecting investors.

Reiterating its position, BSE stated that neither Ramamurthy nor any official of the exchange provides stock tips, investment advice, or runs any messaging groups or channels. It termed the circulating content fake, unauthorised, and deliberately deceptive.

In addition, the exchange has urged investors to remain extremely cautious and avoid engaging with, forwarding, or acting upon such videos, messages, or links. It advised the public to rely only on information shared through official BSE channels and SEBI-registered intermediaries.

BSE also highlighted its ongoing investor awareness efforts under SEBI guidance, aimed at educating the public about fraudulent schemes, fake investment advice, and the growing threat of so-called 'finfluencers,' including its recent nationwide campaign on the issue.

The exchange said it is taking swift action to have the content removed and will initiate strict legal proceedings against those responsible.

- IANS

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Reader Comments

S
Sneha F
Honestly, this is scary. My uncle almost fell for a similar scam last month where someone impersonated a SEBI official. These scammers are getting smarter with deepfakes. BSE needs to do a mass awareness campaign, maybe like WhatsApp forwards in regional languages too.
J
James A
As someone in tech, I'm concerned. Deepfakes are becoming too realistic and cheap to produce. Indian financial authorities need to collaborate with platforms like YouTube and WhatsApp to quickly remove such content. Waiting for legal proceedings is too slow.
P
Priya S
Honestly, BSE should also do better. Instead of just warning after each incident, why not put a permanent banner on their homepage or in their mobile app? Also, I wish they'd penalize the platforms that host these videos. 😤
D
David E
The scammers are exploiting greed. Anyone who believes in 'guaranteed returns' needs to read about the stock market more. But I also give credit to BSE for taking this seriously and initiating legal action. More of this, please.
R
Ravi K
Bhai, what next? Deepfake of Sebi chief giving tips? These criminals need to be caught and made an example of. FIR should be lodged immediately. And for God's sake, elders in our families need to be told: 'No one gives free money online.' 🙏

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