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Using fake trading app without knowing? SEBI, Google plan crackdown
To deal with the problem of fake trading apps, the Securities and Exchange Board of India (SEBI) has partnered with Google to introduce a new safety feature that helps users distinguish between genuine and fraudulent apps. Check details:
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SEBI Chairman Tuhin Kanta Pandey said the regulator is also working on a stricter framework for advertisements. Image Source: AI-Generated
Reported By: Ekta Suri
Written By: ZeeBiz WebTeam
Updated: Wed, Mar 25, 2026
07:13 PM IST
07:13 PM IST
Investing today is just a few taps away because of the latest smartphones. But that convenience has also brought a problem—fake trading apps. In many cases, these apps look almost identical to well-known platforms. People download them thinking they are genuine. By the time they realise something is wrong, money and personal data are already gone. To deal with this, the Securities and Exchange Board of India (SEBI) has partnered with Google to introduce a new safety feature that helps users distinguish between genuine and fraudulent apps. The idea is simple. Apps that are registered with SEBI will get a "verified" tick on the Google Play Store. This is meant to tackle a common trick used by scammers—copying names and designs of well-known companies and brokers. For users, it often becomes difficult to spot what’s real and what isn’t. The label is expected to make that easier.
Focus on misleading ads
SEBI Chairman Tuhin Kanta Pandey said the regulator is also working on a stricter framework for advertisements. Only SEBI-registered entities may be allowed to run ads on platforms like Google and Meta, which operate Facebook and Instagram. The move is aimed at unregistered financial influencers who often push misleading or risky advice.
Pandey noted that fraud is not limited to inexperienced users. Even professionals, including doctors and professors, have been affected.
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Why identification matters
According to SEBI, the first step towards safe investing is proper identification. The new measures are designed not only to flag verified apps but also to reduce risks from apps distributed through APK files outside official platforms.
If implemented properly, the system could help users check whether a broker is genuine, avoid duplicate apps, and think twice before downloading anything.
With this collaboration, users are expected to benefit in three key ways:
- They can identify genuine brokers through verification labels.
- They can avoid falling for fake or duplicate apps.
- They can make more informed decisions before downloading any application.
Basic precautions
SEBI has also flagged a few things investors should keep in mind.
- Check if the app has a verified label.
- Don’t rush into sharing personal or financial details.
- Verify UPI IDs, QR codes and bank accounts before sending money.
These may sound basic, but ignoring them can be costly.
What next
The regulator has made it clear that the verified badge alone won’t solve everything. Faster removal of fake apps is equally important. There is also a broader push for similar systems across other app stores. If that happens, this approach could go beyond India.
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