India’s BSE Limited cautioned investors about a fraudulent deepfake video circulating on social media, falsely depicting its Managing Director and CEO, Sundararaman Ramamurthy, offering stock market advice. The exchange clarified that the video is entirely fabricated and aims to mislead investors with false claims of guaranteed returns. This marks the fourth such incident in the past four months, raising concerns about the misuse of the institution’s credibility.
Scammers are exploiting public trust to target unsuspecting investors, as highlighted by the exchange. BSE emphasized that neither Ramamurthy nor any official provides stock tips, investment advice, or operates messaging groups. The circulating content is deemed fake, unauthorized, and intentionally deceptive. Investors are urged to exercise caution and refrain from engaging with such misleading videos, messages, or links.
BSE stressed the importance of relying only on information from official channels and SEBI-registered intermediaries. The exchange is actively engaged in investor awareness initiatives under SEBI guidance to educate the public about fraudulent schemes and fake investment advice. Additionally, BSE is swiftly working to remove the deceptive content and will take legal action against those responsible for its creation.
