BSE warns investors about resurfaced fraudulent deepfake video scam

The Bombay Stock Exchange (BSE) warns investors of a resurfaced fraudulent deepfake video featuring its MD & CEO, Sundararaman Ramamurthy. The video falsely offers stock tips to defraud the public. BSE urges vigilance and reliance on official channels.

The Bombay Stock Exchange (BSE) 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.

Details of the Fraudulent Video

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's Official Clarification

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.

Investor Advisory and Actions Taken

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)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)