After NSE, BSE warns of its MD's deepfake video

MUMBAI: Days after a deepfake video giving stock recommendations was flagged by NSE, rival bourse BSE on Thursday cautioned investors against a similar video that had surfaced on social media platforms showing its MD Sundararaman Ramamurthy doing the same.

"Some fake, unauthorised and fraudulent videos and audios created through innovative and ingenious technology impersonating (Ramamurthy) are being circulated on social media recommending certain investments and advisory in stocks/shares," BSE said in an advisory. "BSE MD & CEO does not initiate or endorse any such communication via Facebook or any other social media platform."

BSE also advised investors and the public in general not to trust such media and not to follow fake recommendation/unsolicited communication circulated through deceptive means impersonating its MD. "BSE will initiate all possible steps to prevent misrepresentation by unknown elements," the advisory said.

On April 10, NSE had warned the public about a deepfake video that was circulating on social media platforms, which showed its MD Ashishkumar Chauhan recommending stocks. The bourse had flagged the video as a fake one and said that NSE's employees were "not authorised to recommend any stock".