Singapore launches safety rating scheme for e-commerce sites

Written by , Contributor Eileen Yu Contributor

Eileen Yu began covering the IT industry when Asynchronous Transfer Mode was still hip and e-commerce was the new buzzword. Currently an independent business technology journalist and content specialist based in Singapore, she has over 20 years of industry experience with various publications including ZDNet, IDG, and Singapore Press Holdings.

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Singapore has launched a rating scheme that assesses e-commerce marketplaces based on their anti-scam measures. Its technical guidelines for online transactions also have been updated to offer more details on safeguarding against scams.

The E-commerce Marketplace Transaction Safety Ratings (TSR) aimed to evaluate the extent to which these platforms had implemented anti-scam measures that ensured, amongst others, user authenticity, transaction safety, and availability of loss remediation channels for consumers. 

For instance, e-commerce marketplaces would be assessed on whether they had measures in place to verify sellers’ identity and were continuously monitoring for fraudulent seller behaviour. The platforms also would be rated against the use of secure payment tools for transactions as well as the availability of dispute reporting and resolution mechanisms.

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