BSE warns against CEO deepfakes for stock recommendations

BSE Deepfake warning: Following the National Stock Exchange's (NSE) cautionary announcement, rival bourse BSE has alerted investors regarding deepfake videos featuring its Managing Director and CEO Sundararaman Ramamurthy providing stock recommendations.

In an official statement, BSE highlighted the circulation of fraudulent videos and audio across social media platforms, portraying its top executive endorsing specific stock investments. The exchange clarified that its CEO does not initiate or endorse such communications through any social media platform.

BSE urged investors to exercise caution and refrain from trusting or sharing such misleading content. It underlined that the exchange will take necessary measures to prevent misrepresentation by unidentified entities.

Furthermore, BSE advised the public against joining any social media groups impersonating BSE or its officials and cautioned against relying on unsolicited stock recommendations. Investors were reminded to verify the authenticity of communication sources, with BSE stressing that official announcements are solely made through its official website and social media channels. BSE employees are not authorised to recommend stocks or engage in related transactions.

The warning comes in the wake of increasing concerns over deepfake technology, which can produce convincingly manipulated videos or audio recordings, posing a significant risk of spreading misinformation and tarnishing reputations.

(With PTI inputs)