28 June 2022
On 14 May 2022, the Inter-Ministry Committee on Scams (IMCS) launched two initiatives to secure e-commerce marketplaces from scams:
- E-commerce Marketplace Transaction Safety Ratings (“TSR”): Consumers may refer to the TSR for information on anti-scam measures that major e-commerce marketplaces have in place. Major e-commerce marketplaces have been assigned an overall safety rating which indicates the extent to which they have implemented anti-scam measures that ensure (a) user authenticity, (b) transaction safety, (c) availability of loss remediation channels for consumers, and (d) the effectiveness of their anti-scam measures. These ratings will be reviewed annually. Further details are set out in the Factsheet on the E-Commerce Marketplace Transaction Safety Ratings and the TSR microsite.
- Revised Technical Reference 76 on Guidelines for Electronic Commerce Transactions (“TR 76”): TR 76, the national standard for
e-commerce transactions, has been revised to include additional anti-scam guidelines, including best practices, for e-retailers and e-commerce marketplaces, to offer better protection for consumers transacting online. Generally, e-commerce marketplaces that adopt TR 76 guidelines would score better on the TSR. New and existing e-retailers as well as e-marketplaces can refer to the guidelines in the TR 76 to secure themselves against scams. Further details are set out in the Factsheet on Revised Technical Reference 76. TR 76 is available for viewing at https://www.singaporestandardseshop.sg/Covid19/Desktop.