BSE warns of fake social media scams
The Bombay Stock Exchange issued an alert on Friday about fraudsters misusing photographs of senior officials to establish fake social media accounts. These counterfeit profiles claim to offer investment advice, aiming to deceive unsuspecting individuals. The exchange emphasized that its staff members cannot promote or support wealth management services through any unofficial channels.
Investors should verify all communication sources before acting on investment suggestions from unconfirmed social media accounts. The exchange urged people to work exclusively with registered intermediaries whose credentials appear on the websites of the Securities and Exchange Board of India and the BSE. Official updates from the exchange are available only on its verified website and authenticated social media platforms.
The exchange resolved 190 investor grievances against 126 firms in September. Suraj Products, Bajaj Auto, and Reliance Home Finance had the most unresolved complaints pending for more than one month as of September. Regulators investigated 76 investment fraud cases between April 2020 and March 2025, recovering 949 crore rupees in illegal profits from perpetrators.
