 "Now deepfake videos recommend stocks: What to look out for? How to stay safe?")
Deepfake videos are becoming a big concern.
This time, Ashishkumar Chauhan, MD and CEO of the National Stock Exchange (NSE), has been targeted.
He has been seen making stock recommendations in videos that the NSE claims are fake.
What do we know about deepfake targeting stocks? How to stay safe?
The deepfake of Chauhan
On Wednesday, the National Stock Exchange (NSE) cautioned investors against deepfake videos of its MD and CEO Ashishkumar Chauhan giving stock recommendations.
In a statement, the exchange said it has observed the use of the face or voice of Chauhan and NSE logo in a few investments and advisory audio and video clips falsely created using technology.
Such videos seem to have been created using sophisticated technologies to imitate the voice and facial expressions of Chauhan, it added.
“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,” NSE said.
It may be noted that NSE’s employees are not authorised to recommend any stock or deal in those stocks.
Additionally, the exchange said it is making efforts requesting these platforms to take down such videos, wherever possible.
Impact Shorts
More ShortsHow to stay safe
As per the NSE’s process, any official communication is made only through its official website and the exchange’s social media handles, the bourse said.
The exchange has asked investors to verify the source of communication and content that is sent out on behalf of the NSE and to check the official social media handles.
“Everyone is requested to verify the source of communication and content which is sent out on behalf of NSE and to check the official social media handles. All investors are requested to take note of the same and verify the information coming from NSE or its officials from its website www.nseindia.com as the official information,” the exchange said in its statement, as per Business Line.
Deepfakes are manipulated videos or other digital representations that use artificial intelligence to create cogent videos or audio of individuals they never did or said, posing a risk of spreading misinformation and damaging their reputation.
In August last year, market regulator Securities and Exchange Board of India proposed that stock brokers stay away from financial influencers.
Fund house ICICI Prudential Asset Management Company in January warned investors against deepfake videos of its senior executives recommending stocks.
“It has come to our attention that certain unauthorised and maliciously manipulated videos have been disseminated across various online platforms, providing stock recommendations,” the fund house said, distancing itself from the videos.
In November, the Indian government warned social media platforms to repeatedly remind users that local laws prohibit them from posting deepfakes and content that spreads obscenity or misinformation.
With inputs from PTI and Reuters
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