Shopee has come out tops within the 2024 version of the E-commerce Market Transaction Security Scores (TSR) on April 10, whereas Fb Market and Carousell ended up on the backside.
Printed by the Inter-Ministry Committee on Scams, the TSR evaluates the anti-scam options employed by six main e-commerce marketplaces, Amazon, Qoo10, Lazada, Shopee, Fb Market, and Carousell.
Shopee’s rating improves; different platforms stagnate
Shopee attained the best attainable ranking of 4 ticks within the newest version of the scores, becoming a member of Amazon, Lazada, and Qoo10.
In accordance with the statistics, the variety of reported e-commerce scams on Shopee has fallen 65 per cent, from 311 circumstances in 2022 to 109 circumstances in 2023.
Within the earlier 12 months’s version of the scores, Shopee had attained three ticks.
Carousell and Fb Market retained their poorer scores of two ticks and one tick, respectively.
Particularly, Fb Market was the platform utilized in nearly half of e-commerce scams reported in 2023.
How rankings have been determined
In accordance with the Ministry of Residence Affairs’ (MHA) web site, every platform’s security ranking is decided by whether or not they have carried out key security measures, comparable to:
- Measures to confirm vendor authenticity.
- Measures to observe fraudulent vendor behaviour.
- Availability of safe cost choices.
- Upkeep of transaction information and person information.
- Reporting and dispute decision mechanisms.
Shopee, Qoo10, Lazada, and Amazon got a four-tick ranking as they have been assessed to have carried out all the security options.
Within the case of Fb Market and Carousell, solely “some” of the security options have been carried out, resulting in their decrease scores.
Staying secure whereas e-shopping
E-commerce scams are a quite common sort of rip-off in Singapore.
MHA stated that there have been greater than 2,700 circumstances reported in 2021.
Losses totalled round S$5.8 million.
The TSR was first launched in 2022, to assist information and safeguard customers buying on-line.
MHA stated in its advisory that buyers can shield themselves in opposition to scams by solely transacting with sellers with verified identities.
The place attainable, they need to solely use safe cost choices as nicely.
Customers also needs to preserve all transactions and communications with sellers throughout the platform, such that the platform can monitor and examine any disputes.
Lastly, customers can do their half in opposition to scams by promptly reporting any suspicious and fraudulent listings and sellers to the platforms.
Prime photograph by way of Singapore Science Park on Fb
