BSE warns investors against fake social media accounts using its officials’ photos

The Bombay Stock Exchange (BSE) issued an alert to investors on Friday regarding fraudulent individuals creating fake social media profiles using photographs of BSE executives. These accounts allegedly promote deceptive financial advisory services.

“BSE has learned that unauthorized parties are misusing images of senior exchange officials to establish counterfeit social media identities. These fraudulent accounts falsely offer wealth management guidance to exploit unsuspecting investors,” the exchange stated.

The exchange clarified that its employees are strictly prohibited from initiating or endorsing any wealth advisory services. Investors received an advisory to remain vigilant against such misleading content.

“Investors should disregard stock recommendations from suspicious social media accounts and authenticate the credibility of all financial communications prior to investment decisions,” BSE emphasized.

Additionally, BSE urged the public to exclusively consult SEBI-registered intermediaries, listed on both regulatory and exchange websites.

The exchange reiterated that official communications are solely disseminated through its verified digital platforms: www.bseindia.com and authorized social media channels (@bseIndia – Instagram, Facebook, LinkedIn, X, and YouTube).

In related updates, BSE resolved 190 investor complaints involving 126 companies during September 2025. This number includes both freshly received grievances (173 complaints against 102 firms) and previously unresolved cases.

As of September 2025, Suraj Products Ltd., Bajaj Auto Limited, and Reliance Home Finance Limited topped the list of firms with month-old unresolved investor complaints.

In broader regulatory action, the Securities and Exchange Board of India (SEBI) investigated 76 investment fraud cases between April 2020 and March 2025, recovering illicit gains worth ₹949 crore through disgorgement orders.

Authorities continue to collaborate across governmental and regulatory agencies to detect, prevent, and prosecute investment fraud activities.

(With inputs from IANS)