Google to Label Verified Investment Apps in India to Combat Fraud

Google will introduce verified labels for investment apps on its app store in India, aiming to help users identify legitimate platforms and avoid scams. The move comes in collaboration with the Securities and Exchange Board of India (SEBI), which will allow only registered brokers and intermediaries to receive the verification badge. This initiative is designed to make it easier for users to distinguish genuine financial services from fraudulent ones.

So far, around 600 financial service apps have already been assigned the verified label, according to Google. The company emphasized its commitment to building a safer digital ecosystem, especially as cases of online investment fraud rise across apps and social media. Many scams involve unregulated financial influencers promoting high-return schemes that often carry significant risk.

To tackle the issue, SEBI has taken stricter measures, including banning regulated entities from associating with unregistered influencers and penalising those offering unauthorised investment advice. The regulator is also working with platforms like Google and Meta to block advertisements from unregistered financial entities, while planning closer coordination with the government’s IT ministry to further strengthen fraud prevention efforts.

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