SEBI, Google Play to mark legit trading apps
Business
SEBI and Google Play are rolling out a verified app label to help people spot legitimate trading apps and avoid scams that promise easy money.
SEBI's chief, Tuhin Kanta Pandey, pointed out that even experienced people like lawyers and professors have lost large sums of money to these fraudulent apps, so it is not just newcomers at risk.
The goal is to make online investing safer for everyone.
SEBI's efforts against scams
SEBI is not stopping there: it has flagged over 130,000 misleading posts for removal and escalated about 66 cases of fake trading apps to app stores, which were subsequently taken down.
Pandey says stronger teamwork between regulators and tech companies is key to protecting investors and keeping the market trustworthy.