National Stock Exchange on Wednesday cautioned investors against falling prey to investment advice given by deepfake videos of its MD & CEO 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. It may be noted that NSE’s employees are not authorised to recommend any stock or deal in those stocks,” the exchange said in a note.

NSE is requesting these platforms to take down these objectionable videos, wherever possible.

“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.

A deepfake video of a person is one in which their face or body has been digitally altered so that they appear to be someone else, typically used maliciously or to spread false information.

A few months ago, ICICI Prudential Asset Management Company had warned investors against deepfake videos of its senior executives recommending stocks.

Last year, the Ministry of Electronics and Information Technology had sent an advisory, aimed at getting social media firms to crackdown more forcefully on fabricated ‘deepfake’ clips of people made with artificial intelligence.

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