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BSE warns against fake videos of its CEO & MD Ramamurthy recommending stocks
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
‘BSE also advises investors/public not to trust such videos and audios and not to follow fake recommendation/unsolicited communication,’ a circular said. This comes just a week after the National Stock Exchange issued a similar circular about fakes videos of its chief.
The Bombay Stock Exchange (BSE) on Thursday, April 18, warned investors about fake videos and audios of fraudsters impersonating BSE MD and CEO Sundararaman Ramamurthy and recommending certain stocks, that are in circulation in social media.
The announcement comes a week after the National Stock Exchange (NSE) issued a similar circular, about videos impersonating its chief.
The circular issued by the stock exchange 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.”
“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,’ the circular added.
The stock exchange has said that it will initiate all possible steps to prevent misrepresentation by the fraudsters.
Further, the BSE has asked investors/public not to join any group on social media platforms where individuals impersonate BSE or its officials.
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The exchange advised people to be cautious and not to engage or re-circulate such fraudulent messages and not to share any personal and/or confidential information, financial or otherwise. Verify the source of communication before making your decisions, the BSE said.
BSE employees are not permitted to recommend dealing in/or promote any transactions in stocks/shares.
The stock exchange added that any official communication from BSE is made only through www.bseindia.com and BSE’s social media handles @bseIndia – Instagram, @bseIndia – Facebook, @BSEIndia – LinkedIn, @BSEIndia – X (Twitter), @BSEworldBSEIndia – YouTube.
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