BSE alerts investors to deepfake video impersonating CEO

The Bombay Stock Exchange (BSE) has issued a warning to investors after a fake video created using deepfake technology began circulating on social media and messaging platforms, falsely portraying its Managing Director and CEO Sundararaman Ramamurthy as offering stock market tips.

In a statement on Monday, the exchange said the video was entirely fabricated and had been designed to mislead investors by misusing the identity of its chief executive. The clip claims to provide investment advice and stock recommendations, including suggestions for 2026, while promising unusually high or “super-normal” returns.

According to the BSE, the video also encourages viewers to join a WhatsApp channel, making false assurances that they could become multi-millionaires within a short period of time.

“It has come to the notice of BSE Limited that a fraudulent deepfake video is being circulated on social media and messaging platforms, falsely featuring Sundararaman Ramamurthy, Managing Director and CEO, BSE, and claiming to provide stock recommendations and investment advice,” the exchange said.

The BSE clarified that neither Ramamurthy nor any official of the exchange offers stock tips or operates WhatsApp, Telegram or similar messaging groups for investment advice. It stressed that the video was unauthorised, fake and intended solely to deceive the public.

Investors and the general public have been advised to ignore such videos, messages and links, and to depend only on information disseminated through BSE’s official communication channels or via intermediaries registered with the Securities and Exchange Board of India (SEBI).

The exchange said it was taking steps to have the fraudulent content removed from online platforms and would initiate appropriate legal action against those responsible for creating and spreading the video.

Urging investors to remain vigilant, the BSE said the advisory was issued in the interest of investor protection and warned against the growing risk of deepfake-based scams in the financial markets.

With IANS inputs