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According to their Developer Distribution Agreement:
8.3 Google does not undertake an obligation to monitor the Products or their content. If Google becomes aware and determines in its sole discretion that a Product or any portion thereof (a) violates any applicable law; (b) violates this Agreement, applicable policies, or other terms of service, as may be updated by Google from time to time; (c) violates terms of distribution agreements with device manufacturers and Authorized Providers; or (d) creates potential liability for, or may have an adverse impact on, Google or Authorized Providers (for example, if a Product has an adverse economic, reputational or security-related impact); then Google may reject, remove, suspend, limit the visibility of a Product on Google Play, or reclassify the Product from Google Play or from Devices. Google reserves the right to suspend and/or bar any Product and/or Developer from Google Play or from Devices as described in this Section. If Your Product contains elements that could cause serious harm to user devices or data, Google reserves the right to disable the Product or remove it from Devices on which it has been installed. If Your Product is rejected, removed, or suspended from Google Play or from Devices pursuant to this Section 8.3, then Google may withhold payments due to Developer.
And their Content Policy:
We don’t allow apps that mislead users by impersonating someone else (e.g. another developer, company, entity) or another app. Don’t imply that your app is related to or authorized by someone that it isn’t. Be careful not to use app icons, descriptions, titles, or in-app elements that could mislead users about your app’s relationship to someone else or another app.
https://play.google.com/intl/ALL_uk/about/developer-distribution-agreement.htmlhttps://play.google.com/intl/es/about/developer-content-policy/It seems that they rely pretty much on the above warding to shield themselves from responsibility of product impersonation such as wallet malware clones, and leave it largely to the community to detect and report these cases. Of course, thit seems insufficient, and one could imagine a few more procedures that can be set into motion to mitigate this sort of events from happening so easily.