Investors have been cautioned by BSE about phony films purporting to be of the exchange's CEO that are going viral. He appears to be supporting particular stocks and investments in it. This is happening only a week after the National Stock Exchange released a similar memo regarding videos purporting to be its CEO.
A circular released by the exchange on April 18 stated, "It has come to our notice that some fake, unauthorized and fraudulent videos and audios created through innovative and ingenious technology impersonating BSE’s Managing Director and Chief Executive Officer, Mr. Sundararaman Ramamurthy (BSE MD & CEO) are being circulated on social media recommending certain investments and advisory in stocks/shares."
According to it, "BSE also advises investors/public not to trust such videos and audios and not to follow fake recommendation/unsolicited communication circulated through deceptive means impersonating BSE MD & CEO."
Additionally, the BSE cautioned the public and investors not to engage in or resend such fake mails and not to divulge any private or sensitive information, financial or otherwise.
The general public and investors are encouraged to confirm the communication's source before acting. It is not allowed for BSE staff to promote or advise dealing in stocks or shares.
The National Stock Exchange (NSE) alerted investors on April 10 about phony movies that were making the rounds online that featured the voice and visage of MD and CEO Ashishkumar Chauhan. The stock exchange advised investors to exercise caution while watching these kinds of films and to confirm any facts they weren't sure of by contacting the proper channels of communication.
