NSE issues caution against fake videos of CEO Chauhan recommending stocks

The National Stock Exchange (NSE) on Wednesday issued a caution to investors about fake videos of its Managing Director and Chief Executive Officer (MD & CEO) Ashishkumar Chauhan recommending specific stocks.

"Such videos seem to have been created using sophisticated technologies to imitate the voice and facial expressions of Ashishkumar Chauhan. Investors are hereby cautioned not to believe in such audio and videos and not follow any such investment or other advice coming from such fake videos or other mediums," said NSE.

The exchange reiterated that its employees are not authorised to recommend any stock or deal in those stocks.

The videos in question also used the NSE logo to make them appear authentic.

The exchange added that it had made requests to remove these videos from the platforms. Further, it has appealed to investors to verify any such communication circulating on behalf of NSE and affirm them from the official social media handles of the bourse.

Chauhan is not the first to fall victim to such gimmicks done by miscreants promoting specific stocks.

Earlier in February, fake videos showcased Reliance Industries Chairman Mukesh Ambani promoting a stock tips group with an AI-generated voice.

Industry experts are of the opinion that the popularity of such AI technology could pose a challenge for investors in discerning genuine information.