Shopee Rating Rises as Fraud Volume Drops by 65%
Jayson 11 Apr 2024 08:57
It is reported that Shopee received 4 ticks in the latest round of Singapore's e-commerce platform Transaction Security Rating (TSR), which is in the same grade as Amazon, Lazada and Qoo10.
Facebook Marketplace received only one tick and was the worst-rated of all e-commerce marketplaces, finishing at the bottom for the third year in a row.
The ratings cover major local e-commerce markets that offer online transactions, are influential, or have experienced fraud cases. They are divided into one to four ticks, with four ticks representing the best rating. E-commerce platforms that have taken all important anti-fraud measures will receive a full four-tick rating.
The number of e-commerce scams reported on Shopee dropped by 65%, from 311 cases in 2022 to 109 in 2023.
But on Facebook, the number of reported scams quadrupled from 1,138 in 2022 to 4,550 in 2023.
This represented 46.5% of the 9,783 e-commerce fraud cases reported in 2023, double the 4,762 cases in 2022.
Facebook Marketplace received only one tick and was the worst-rated of all e-commerce marketplaces, finishing at the bottom for the third year in a row.
The ratings cover major local e-commerce markets that offer online transactions, are influential, or have experienced fraud cases. They are divided into one to four ticks, with four ticks representing the best rating. E-commerce platforms that have taken all important anti-fraud measures will receive a full four-tick rating.
The number of e-commerce scams reported on Shopee dropped by 65%, from 311 cases in 2022 to 109 in 2023.
But on Facebook, the number of reported scams quadrupled from 1,138 in 2022 to 4,550 in 2023.
This represented 46.5% of the 9,783 e-commerce fraud cases reported in 2023, double the 4,762 cases in 2022.
