The Bombay Stock Exchange (BSE) on Monday issued a stern warning to investors regarding a fraudulent deepfake video circulating on social media platforms, falsely showing its CEO providing stock recommendations and investment advice. The exchange clarified that the video is entirely unauthorized, misleading, and part of a deliberate attempt to misinform the public.

In a statement, BSE explained that the video falsely depicts Sundararaman Ramamurthy, Managing Director & CEO of BSE, offering guidance on stock investments for 2026 and promising extraordinary returns. The content reportedly encourages viewers to join a WhatsApp channel, with claims such as “you will have ₹8 million by 2027,” all of which the exchange confirmed are fabricated.

“This is a deepfake video and is neither authorized by BSE nor reflective of any statements made by our CEO or officials,” the exchange said. “No BSE official provides stock tips, investment advice, or operates WhatsApp, Telegram, or similar groups for financial recommendations.”

The exchange emphasized that deepfakes — digitally manipulated videos created using artificial intelligence to make it appear that individuals said or did something they never actually did — pose serious risks of misinformation and can damage reputations.

BSE stated it is actively working to remove the fraudulent content from social media and messaging platforms and has initiated legal action against those responsible for creating and circulating the video. Investors and the public are advised not to rely on such videos or messages, and to refer only to communications issued through official BSE channels or SEBI-registered intermediaries for market-related information.

This is not the first instance of deepfake-related warnings in the Indian stock market. In April of last year, both BSE and the National Stock Exchange (NSE) had cautioned investors against deepfake videos featuring their CEOs giving investment tips. Authorities have since heightened vigilance as deepfake technology becomes increasingly sophisticated, creating potential avenues for fraud, market manipulation, and misinformation.

Investors are advised to exercise caution and verify any stock recommendations through official channels. The BSE reiterated that all market-related communications from the exchange are issued only through verified handles, and any purported advice on social media should be treated as fraudulent.

The exchange also highlighted the broader risks associated with deepfakes, noting that these AI-generated videos can convincingly simulate real individuals, making it increasingly difficult for the public to distinguish between authentic and manipulated content. Such videos can undermine investor confidence and have the potential to impact trading behavior if acted upon without verification.

By issuing this alert, BSE aims to protect investors from misleading information and reinforce the importance of relying solely on legitimate, authorized sources for financial guidance.

Key takeaways for investors:

• The video circulating online featuring BSE CEO Sundararaman Ramamurthy is a deepfake and unauthorized.
• No BSE official provides investment advice or operates social media groups for stock tips.
• Investors should verify all market-related information through official BSE channels or SEBI-registered intermediaries.
• Acting on fraudulent videos or messages could lead to financial loss and other risks.
• Authorities are pursuing legal and technical measures to remove the video and hold perpetrators accountable.

As deepfake technology continues to evolve, investors are urged to remain vigilant, question the authenticity of online content, and prioritize official communications over unverified sources. The BSE has assured that it is committed to safeguarding market integrity and investor interests while taking action against those attempting to exploit technological tools for fraudulent purposes.