BSE Warns of Repeated Deepfake Scams Targeting Investors

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India's BSE Limited has warned investors about a fourth deepfake video in four months, falsely depicting CEO Sundararaman Ramamurthy giving investment advice. The AI-generated videos mislead viewers with false promises of high returns, urging them to join private groups, posing financial risks and eroding trust.[AI generated]

Why's our monitor labelling this an incident or hazard?

The deepfake video is an AI-generated manipulated media that falsely represents a trusted figure to mislead and scam investors. The use of deepfake technology is explicitly mentioned, indicating AI system involvement. The harm is realized as investors are targeted with fraudulent investment tips, which can cause financial harm and breach trust. Therefore, this event qualifies as an AI Incident due to the direct harm caused by the malicious use of an AI system (deepfake generation).[AI generated]
AI principles
AccountabilityTransparency & explainability
Industries
Financial and insurance services
Affected stakeholders
ConsumersBusiness
Harm types
Economic/PropertyReputational
Severity
AI incident
AI system task:
Content generation

Articles about this incident or hazard

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Why's our monitor labelling this an incident or hazard?
The deepfake video is an AI-generated manipulated media that falsely represents a trusted figure to mislead and scam investors. The use of deepfake technology is explicitly mentioned, indicating AI system involvement. The harm is realized as investors are targeted with fraudulent investment tips, which can cause financial harm and breach trust. Therefore, this event qualifies as an AI Incident due to the direct harm caused by the malicious use of an AI system (deepfake generation).
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BSE Deepfake Alert: Fake Video of CEO Sundararaman Ramamurthy Offering Stock Tips Circulates, Exchange Issues Warning | 📰 LatestLY

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LatestLY
Why's our monitor labelling this an incident or hazard?
The event explicitly mentions the use of deepfake technology, an AI system, to create a fraudulent video that misleads investors into making poor financial decisions, which constitutes harm to individuals (financial harm). The misuse of AI-generated deepfake content to deceive and scam investors fits the definition of an AI Incident, as the AI system's use has directly led to harm. The repeated nature of such incidents further supports this classification.
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BSE warns investors against 4th fake deepfake video of CEO Ramamurthy promoting investment advice

2026-04-24
Social News XYZ
Why's our monitor labelling this an incident or hazard?
The event explicitly mentions the use of deepfake technology, which is an AI system capable of generating realistic fake videos. The misuse of this AI system has directly led to harm by misleading investors and potentially causing financial losses. The repeated occurrence of such deepfake videos indicates ongoing harm. Therefore, this qualifies as an AI Incident because the AI system's use has directly led to harm to people (investors) and communities through deception and fraud.
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BSE warns investors against 4th fake deepfake video of CEO Ramamurthy promoting investment advice

2026-04-24
International Business Times, India Edition
Why's our monitor labelling this an incident or hazard?
The event explicitly involves a deepfake video, which is an AI system-generated manipulated content. The misuse of this AI-generated deepfake has directly caused harm by misleading investors, constituting an AI Incident under the definition of harm to communities and individuals. The repeated nature of the incidents and the direct impact on investor trust and potential financial harm confirm this classification as an AI Incident rather than a hazard or complementary information.
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BSE warns investors against 4th fake deepfake video of CEO Ramamurthy promoting investment advice

2026-04-24
DT Next
Why's our monitor labelling this an incident or hazard?
The event explicitly mentions deepfake technology, an AI system used to create fabricated videos. The videos are maliciously used to mislead investors with false claims, which constitutes harm to people by potentially causing financial loss and damage to trust. This is a direct harm caused by the AI system's misuse, fitting the definition of an AI Incident.
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BSE warns against 4th deepfake video of its CEO giving financial advice

2026-04-25
bizzbuzz.news
Why's our monitor labelling this an incident or hazard?
The deepfake video is an AI-generated fabricated content that misrepresents a public figure to mislead investors, constituting a direct harm to the community by spreading false information that could lead to financial harm. The repeated occurrence of such incidents indicates a pattern of malicious AI misuse causing realized harm. Therefore, this qualifies as an AI Incident due to the direct harm caused by the AI system's misuse.