IMO, when I download ETrade App on my smartphone, it is good to know that someone checked that it was submitted by someone who is from ETrade really. If the process is rigorous for E*Trade, so be it. But as an end user I'd prefer it to be that way instead of making it _my_ responsible to verify before installing the app.
http://arstechnica.com/apple/2013/08/how-app-store-grifters-...
From what I understand, absent a legal judgment Apple doesn't do much to police copycats, misleading names and the like.
Seriously. It's documented iOS has had malware: http://www.forbes.com/sites/adriankingsleyhughes/2012/07/06/...
Open vs closed & other religious wars aside, it's ridiculous to imply that both platforms carry the same risk to end users.
The play store scans every submitted the apps for malware (in the last versions it also scans applications NOT installed through the play store).
I don't want to be pedantic, it's just that I know more about this platform and I would like to be corrected if I say something wrong about platforms that I'm not familiar with.
Given the review process, the odds may be longer that a particular app is malware, but given the size of the store I think it is virtually certain there is still some undetected malware in it.