A group of fraudsters is using artificial intelligence (AI) and social media platforms to deceive ordinary investors in the stock market, prompting action from regulatory and intelligence agencies.

The Bangladesh Securities and Exchange Commission (BSEC) has confirmed that fraud rings are operating through WhatsApp, Facebook, and Telegram, where they build trust by showing small, short-term profits. Once the victims are convinced, the scammers promise higher returns and collect large amounts of investment—only to cut off all communication and disappear.

According to a BSEC letter sent to the National Telecommunication Monitoring Center (NTMC), the fraudsters also claim that investors’ money is “stuck” in mobile app-based investment platforms, pressuring them to send more money to recover it. After that, the fraudsters block the victims entirely.

BSEC recently discovered such a fraudulent WhatsApp group and has requested the NTMC to shut it down and take legal action against those involved.

The commission also flagged a rising wave of false and misleading stock market information being spread through various Facebook pages, groups, and individual IDs—violating the Securities and Exchange Rules, 2013, which state that only registered institutions are allowed to publish research or share price forecasts.

The BSEC specifically named the following groups/pages under investigation:

• Hobby Share Market
• BD STOCK EXCHANGE (DSE & CSE)
• Market Analysis
• PUBLIC BUSINESS CLUB
• Planned Investment

There are also several other unnamed groups and accounts suspected of similar activities.

Abul Kalam, BSEC Director and Spokesperson, said,

“Fraudsters are misleading ordinary investors with false promises. The commission is actively working to stop these scams. However, since BSEC lacks the tools to track online identities, we are working with the NTMC for technical assistance.”

He urged investors to remain cautious and avoid offers that seem “too good to be true.”

The BSEC continues to monitor social media activities and warns that legal action will be taken against any individual or group spreading unverified or false information about the stock market.