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Centre warns against fake trading apps: How to stay safe
09 Apr 2026

The Indian government has issued a warning about the rising threat of fake trading apps.

These platforms closely mimic legitimate investment services, making it hard for users to tell apart real from fraudulent offerings.

The authorities have flagged that unsuspecting users are lured with promises of high returns, only to lose their money as funds never reach actual financial markets.

How to identify a fraudulent app?
Scam tactics

The fraudulent apps mimic the look and feel of popular trading platforms.

Users are usually lured through social media ads, messaging apps, or unsolicited links to download these platforms.

Once downloaded, victims are persuaded to deposit money under the pretext of investing in stocks or other financial instruments.

But instead of being invested, their money is directly transferred to accounts controlled by fraudsters.

Government issues guidelines to stay safe from scams
Precautionary measures

To help users stay safe from such scams, the government has recommended three key precautions.

First, users should verify bank details using official tools provided by market regulators.

Second, it's essential to check the authenticity of the UPI handle or payment gateway associated with the platform as fraudulent apps often use suspicious or mismatched payment credentials.

Third, look for a 'Verified' label before downloading any trading app.

What to do if you suspect fraud?
Reporting fraud

Authorities stress that user vigilance is key, even with these precautions in place.

If you suspect fraud, act quickly by reporting the incident through official channels.

You can reach out to the national cybercrime helpline at 1930 or lodge a complaint on the government's cybercrime reporting portal.

This way, timely action can be taken against such fraudulent activities and prevent further victimization of unsuspecting users.