'Fake apps a serious threat': Sebi chief urges Big Tech, regulators to work together to protect investors
As a part of a new step to curb investment frauds, Google Play Store will now display a verified badge on broking apps registered by Sebi
- Mar 25, 2026,
- Updated Mar 25, 2026 7:37 PM IST
Over the last few years, digital transactions in India have grown manyfold, but so have frauds. The Securities and Exchange Board of India (Sebi), which has been taking steps to curb digital and investment frauds, says regulators and big technology platforms should work together in this regard.
"Regulators, intermediaries and big tech must work together as investor protection is a shared responsibility," Sebi chairman Tuhin Kanta Pandey said on Wednesday.
Also read: Trading in volatile markets? Zerodha's Nithin Kamath has some advice for you
As a part of this effort, all Sebi-registered broking apps will now get a verified badge on the Google Play Store.
Pandey said that this initiative was not just about putting a label on the app, but about trust and helping investors distinguish the genuine from the fake.
"Today, we have more than 140 million unique investors in the securities market. These numbers reflect growing trust in markets. This opportunity also brings responsibility. We must make the journey of first-time investors safer," said Pandey.
Also read: 'No insinuations without evidence': Sebi chief cautions independent directors after HDFC Bank shock
In the last few years, as more Indians have started trading and investing, the number of investing apps, impersonating the original ones, has also been on the rise.
Fraudsters lure investors with promises of assured returns. Investors are convinced to install apps that closely resemble those of Sebi-registered intermediaries. By the time suspicion rises, investors have already lost their money.
To ensure investors know the app they are using is genuine, the Google Play Store will now display a verified badge on broking apps registered by Sebi.
"Fake apps are now a serious threat and can cause irreparable financial harm. Sebi's approach to address such frauds has been simple: to build checks before harm occurs," Pandey stated.
Around 66 cases of fake trading apps have been escalated to app stores, which have been taken down, he said.
In due course, this initiative will be extended to apps of other Sebi-registered entities, officials said.
Pandey also urged platforms other than Google to adopt this verified badge system in the interest of investors. He also felt that the time taken to identify and remove fake apps must come down.
Many times, investors are made to download fake apps via links or websites, a practice often called sideloading of apps. The regulator is also working on addressing this issue.
"Side-loading remains a serious risk. We are working with stakeholders to curb this risk," Pandey informed.
The regulator is actively monitoring digital platforms for investment-related content, and a lot of such content has been escalated to the platforms for its removal, Pandey noted.
Over the last few years, digital transactions in India have grown manyfold, but so have frauds. The Securities and Exchange Board of India (Sebi), which has been taking steps to curb digital and investment frauds, says regulators and big technology platforms should work together in this regard.
"Regulators, intermediaries and big tech must work together as investor protection is a shared responsibility," Sebi chairman Tuhin Kanta Pandey said on Wednesday.
Also read: Trading in volatile markets? Zerodha's Nithin Kamath has some advice for you
As a part of this effort, all Sebi-registered broking apps will now get a verified badge on the Google Play Store.
Pandey said that this initiative was not just about putting a label on the app, but about trust and helping investors distinguish the genuine from the fake.
"Today, we have more than 140 million unique investors in the securities market. These numbers reflect growing trust in markets. This opportunity also brings responsibility. We must make the journey of first-time investors safer," said Pandey.
Also read: 'No insinuations without evidence': Sebi chief cautions independent directors after HDFC Bank shock
In the last few years, as more Indians have started trading and investing, the number of investing apps, impersonating the original ones, has also been on the rise.
Fraudsters lure investors with promises of assured returns. Investors are convinced to install apps that closely resemble those of Sebi-registered intermediaries. By the time suspicion rises, investors have already lost their money.
To ensure investors know the app they are using is genuine, the Google Play Store will now display a verified badge on broking apps registered by Sebi.
"Fake apps are now a serious threat and can cause irreparable financial harm. Sebi's approach to address such frauds has been simple: to build checks before harm occurs," Pandey stated.
Around 66 cases of fake trading apps have been escalated to app stores, which have been taken down, he said.
In due course, this initiative will be extended to apps of other Sebi-registered entities, officials said.
Pandey also urged platforms other than Google to adopt this verified badge system in the interest of investors. He also felt that the time taken to identify and remove fake apps must come down.
Many times, investors are made to download fake apps via links or websites, a practice often called sideloading of apps. The regulator is also working on addressing this issue.
"Side-loading remains a serious risk. We are working with stakeholders to curb this risk," Pandey informed.
The regulator is actively monitoring digital platforms for investment-related content, and a lot of such content has been escalated to the platforms for its removal, Pandey noted.