Is the BSE Alerting Investors About Fake Social Media Accounts Featuring Its Officials’ Images?
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Synopsis
The BSE has issued a crucial warning to investors regarding deceptive social media accounts misusing its officials' images. This alert emphasizes the importance of verifying information sources and engaging only with registered intermediaries. Stay informed and protect your investments from fraudulent activities.
Key Takeaways
- BSE warns against fake social media IDs.
- Investors should verify sources before acting on advice.
- BSE communications are only through official channels.
- Engage with registered intermediaries listed on SEBI and BSE websites.
- Be cautious of misleading investment advice.
Mumbai, Oct 24 (NationPress) The Bombay Stock Exchange (BSE) issued a warning on Friday regarding individuals misusing the photographs of BSE officials to establish fraudulent social media profiles aimed at disseminating deceptive wealth advice.
"We have observed that images of senior BSE officials are being exploited to create counterfeit social media accounts. These accounts purport to offer wealth advisory services, misleading unsuspecting investors," the stock exchange stated in an announcement.
BSE officials do not have the authorization to initiate or promote any wealth management or advisory services in any form; hence, investors must not be misled by such fraudulent representations.
"Investors are strongly advised against relying on any stock or share recommendations from such counterfeit social media profiles and are encouraged to verify the source of information prior to making any investment choices," the stock exchange added.
Additionally, BSE recommended that investors engage solely with registered intermediaries, a list of which is accessible on the SEBI and BSE websites.
The stock exchange emphasized that it communicates exclusively through its official websites and social media accounts.
"All official BSE communications are conducted via www.bseindia.com and BSE’s social media accounts @bseIndia on Instagram, Facebook, LinkedIn, X (Twitter), and @BSEworldBSEIndia on YouTube," BSE clarified.
Previously, BSE reported that it resolved 190 investor complaints against 126 companies in September 2025.
The Bombay Stock Exchange also received 173 complaints against 102 companies in September of this year.
The complaints from earlier periods are among those that the Bombay Stock Exchange has addressed.
The stock exchange revealed that, as of September 2025, Suraj Products Ltd., Bajaj Auto Limited, and Reliance Home Finance Limited were the top three companies with unresolved complaints exceeding one month.
Between April 2020 and March 2025, the Securities and Exchange Board of India investigated 76 cases related to investment fraud, resulting in offenders being ordered to repay Rs 949 crore in unlawful profits.
To prevent, identify, and combat investment fraud, various central government, law enforcement, and regulatory bodies have been actively involved.
Point of View
I emphasize the necessity for investors to remain vigilant against fraudulent activities. The BSE's warning serves as a reminder of the evolving tactics employed by scammers. Investors must prioritize verified information to safeguard their financial interests.
NationPress
24/10/2025
Frequently Asked Questions
What should investors do if they encounter fake social media accounts?
Investors should report any suspicious accounts and refrain from engaging with them. Always verify the source of any financial information.
How can investors ensure they are dealing with legitimate intermediaries?
Investors can check the list of registered intermediaries available on the SEBI and BSE official websites.
What are the official communication channels for BSE?
BSE communicates solely through its official website, www.bseindia.com, and its verified social media handles.
