Shopee Ranks First in Singapore’s E-commerce Security Ratings in 2024
Jayson 26 Apr 2024 09:06
According to reports, Shopee received a perfect score of 4 points in the latest round of E-commerce Marketplace Transaction Safety Ratings (TSR), which is in the same grade as Amazon, Lazada and Qoo10; Facebook is still one point behind Bottom.
It is reported that the Inter-Ministry Committee on Scams was established in April 2020 to combat fraud, bringing together the Ministry of Home Affairs (MHA), the Ministry of Communications and Information, the Monetary Authority of Singapore, and Trade and Industry Ministry and other government agencies.
Data shows that the number of e-commerce fraud cases reported by Shopee has dropped by 65%, from 311 cases in 2022 to 109 cases in 2023; the number of fraud cases reported by Facebook has increased from 1,138 cases in 2022 to 4,550 cases in 2023, doubled. This has doubled, accounting for 46.5% of the 9,783 e-commerce fraud cases reported in 2023, which is double the 4,762 cases in 2022.
In 2023, victims lost more than $13.9 million to e-commerce fraud. The Home Office said the scams often involve the sale of goods and services online, with payment not being delivered. It added that police have been working with the platforms to place their staff in the Anti-Fraud Command. Carousell and Shopee housed employees there between January and March.
It is reported that the Inter-Ministry Committee on Scams was established in April 2020 to combat fraud, bringing together the Ministry of Home Affairs (MHA), the Ministry of Communications and Information, the Monetary Authority of Singapore, and Trade and Industry Ministry and other government agencies.
Data shows that the number of e-commerce fraud cases reported by Shopee has dropped by 65%, from 311 cases in 2022 to 109 cases in 2023; the number of fraud cases reported by Facebook has increased from 1,138 cases in 2022 to 4,550 cases in 2023, doubled. This has doubled, accounting for 46.5% of the 9,783 e-commerce fraud cases reported in 2023, which is double the 4,762 cases in 2022.
In 2023, victims lost more than $13.9 million to e-commerce fraud. The Home Office said the scams often involve the sale of goods and services online, with payment not being delivered. It added that police have been working with the platforms to place their staff in the Anti-Fraud Command. Carousell and Shopee housed employees there between January and March.
