SEBI-verified apps will now be easier for investors to identify on the Google Play Store, as the Securities and Exchange Board of India and Google work to distinguish eligible apps of registered financial institutions from fake trading platforms. Kolkata Police has separately shared an awareness video urging residents to verify the identity of the person or institution receiving their money before making any investment-related payment.
The initiative comes amid increasing cases of cyber fraud carried out through imitation trading and investment applications. According to the report, fraudsters create apps that closely resemble established brokerage firms and investment platforms, then promote them through social media, WhatsApp groups and fabricated investment advice. Victims are often shown fake profits to encourage larger deposits before access to their money is blocked.
Under the new arrangement, eligible apps belonging to brokers and financial institutions registered with SEBI will receive a special verified identification on the Google Play Store. Aditya Swamy, managing director of Google Play, said approximately 600 financial services apps in India had received the verified label so far. Other eligible apps linked to the securities market are expected to be included in the system in the future, the report said.
The verification initiative is being accompanied by a safety formula promoted by SEBI: CVV, or Check, Validate and Verify. Investors have been advised to use the SEBI Check feature available through the regulator’s Saarthi app to examine the bank account associated with a payment. They have also been told to check the validity of the UPI ID being used for the transaction.
SEBI has introduced “@valid” UPI handles for registered entities, with category-specific suffixes intended to make identification easier. Kolkata Police referred to these handles in its public awareness message and advised investors to confirm whether the institution receiving their money is registered with SEBI.
The verification measures place responsibility on both digital platforms and investors. A verified label can help users identify eligible apps on the official app store, while the SEBI tools and UPI-handle checks provide additional steps before money is transferred. The measures do not remove the need to examine the identity and regulatory status of the institution involved.
Kolkata Police’s intervention brings the issue into the sphere of local public safety administration, as investment fraud increasingly uses familiar digital communication channels rather than traditional physical contact. The police advice is for investors to check the legitimacy of the institution before making any payment, while SEBI’s tools are intended to support that verification process.
The next phase of the initiative will involve bringing more eligible stock-market-related apps under the verified identification system. Investors have been advised to look for the Google Play verification badge and check SEBI’s verification tools before downloading a trading app or transferring funds.
