NSE cautions against 'fake' videos of its CEO Ashishkumar Chauhan recommending stocks

The National Stock Exchange (NSE) has cautioned investors against the fake videos that show the bourse’s managing director and chief executive officer Ashish Chauhan recommending certain stocks.

In a release issued on April 10, the exchange clarified that Chauhan has not issued any such video. Not only are the audio and video clips fake, but the rules bar any official of the NSE from recommending stocks to traders or investors, it added.

The clarification came after it was observed that some clips were circulating on social media that falsely showed Chauhan offering his suggestion on investments in stock market.

“Such videos seem to have been created using sophisticated technologies to imitate the voice and facial expressions of Ashishkumar Chauhan, MD & CEO of NSE,” it stated.

What NSE said in its clarification note

According to the NSE, the video and audio clips of Chauhan have been “falsely created using technology”. The exchange recommended investors to visit the official platforms of the NSE, including its website and verified social media handles, to verify the information circulated online.

“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,” the release said.

“It may be noted that NSE's employees are not authorised to recommend any stock or deal in those stocks,” it added.

"Additionally, NSE makes efforts requesting these platforms to take down these objectionable videos, wherever possible," the exchange further noted.

According to experts, the misuse of artificial intelligence (AI) could become rampant in the near future, as miscreants are looking to spread disinformation using the path-breaking technology. Several multilateral bodies, governments and regulatory authorities around the world have also flagged the risk of AI being used as a tool by scamsters.