SEBI-Registered Brokers' Trading Apps To Show 'Verified' Label On Google Play Store To Curb Fraud

SEBI Chairman Tuhin Kanta Pandey on Wednesday unveiled a 'verified' label for stock trading apps of SEBI-registered brokers on the Google Play Store, a step aimed at helping investors distinguish genuine platforms from fraudulent ones.

The decision comes against the backdrop of a growing number of fake trading applications that have been targeting retail investors. In several cases, scammers have impersonated legitimate apps and misled users into believing their money was being invested through the regulated securities market.

SEBI, in collaboration with Google, has introduced a first-of-its-kind 'Verified' badge on Google Play for stock trading apps offered by entities registered with the regulator. Apps linked to SEBI-registered brokers will now display a 'Verified' label on the Play Store, and the feature will later be extended to applications of other regulated intermediaries.

The regulator said the collaboration with Google marks a major step in tackling bad actors in the investment ecosystem.

Google Play Managing Director Aditya Swamy said the initiative is a unique public-private partnership aimed at investor protection and added that Google will continue to work with SEBI on similar measures.