In a bid to curb rising digital investment frauds, Google will begin labelling verified investment applications on its Play Store in India, enabling users to distinguish legitimate trading platforms from fraudulent ones.
Securities and Exchange Board of India (Sebi) chairperson Tuhin Kanta Pandey on Wednesday said that intermediaries registered with the regulator will carry a verified badge on the Google Play Store, helping investors identify authentic apps while making impersonation significantly more difficult.
Highlighting the growing risks in an increasingly digital investment ecosystem, Pandey warned that fake applications have emerged as a serious threat, often leading to substantial financial losses and eroding investor confidence. Fraudsters, he said, typically lure users with promises of assured returns and persuade them to download apps that closely mimic those of Sebi-registered entities. “By the time suspicion arises, investors have already lost their money. It is not just financial loss, but also a loss of confidence,” he noted.
The move comes as Sebi intensifies its crackdown on unauthorised investment advisers, finfluencers and fraudulent trading platforms amid a surge in scams targeting retail investors. The regulator is actively monitoring digital platforms for misleading content and has escalated multiple applications for takedown.
Pandey, however, cautioned that the effectiveness of the verified badge would depend on wider adoption beyond Google’s ecosystem. He also flagged the need to reduce the time taken to detect and remove fake apps, and to address risks posed by side-loading — where malicious applications are installed via external links instead of official app stores.
Audit of analysts
Sebi on Wednesday allowed members of the Institute of Cost Accountants of India to conduct the annual audit of research analysts and investment advisers, a move that will widen the pool of eligible professionals.
Earlier, only members of the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India were permitted to carry out such audits.
