The initiative has been introduced in collaboration with the Securities and Exchange Board of India, which regulates the country’s capital markets. Under this system, only those brokers and intermediaries that are officially registered with SEBI will be eligible to receive a verification badge. For users, this label is expected to act as a simple but crucial signal of credibility while choosing where to invest their money.
At a recent industry interaction, Aditya Swamy, Managing Director at Google Play, shared that close to 600 financial service apps have already been tagged as verified. He underlined that the company is working towards building a safer digital environment where investors can make decisions with greater confidence, without constantly worrying about falling into a scam.
The timing of this step is significant. India has seen a noticeable rise in online financial frauds in recent months. From fake trading apps to misleading schemes promoted on social media, scammers are finding new ways to target retail investors. In many instances, so-called financial influencers—who are not regulated—have been seen promoting high-return opportunities without adequately explaining the risks involved.
Recognising the seriousness of the issue, SEBI has intensified its crackdown. The regulator has barred registered entities from associating with unverified influencers and has taken strict action against individuals offering unauthorised investment advice. These actions have ranged from market bans to the seizure of funds earned through questionable means.
SEBI Chairman Tuhin Kanta Pandey said the verification badge would make it far more difficult for fraudulent apps to pass themselves off as legitimate platforms. The idea is to build a clear line between trusted services and suspicious ones, making it easier for users to make informed choices.
Beyond app verification, SEBI is also working with major tech companies like Meta to ensure that unregistered financial entities do not get access to advertising channels. This is aimed at cutting off a key route through which many scams reach potential victims.
Looking ahead, the regulator is set to deepen its coordination with the Ministry of Electronics and Information Technology. According to SEBI official Jeevan Sonparote, a formal agreement is expected soon, which will further strengthen efforts to detect and curb digital financial fraud.
Taken together, these steps reflect a more coordinated approach between regulators and technology platforms to protect investors in an increasingly app-driven financial world.
