Amazon, Lazada the best anti-scam security ratings; Facebook Marketplace is the lowest rated
SINGAPORE — Amazon, Lazada and Qoo10 received the highest anti-scam security ratings, but Facebook Marketplace was rated the lowest, in a new rating system that launched on Saturday May 14.
The e-commerce marketplace Transaction Safety Ratings (TSR), launched by the Interministerial Committee on Scams, assesses the anti-scam measures of platforms.
The committee was formed in April 2020 to combat scams and brings together government agencies such as the Ministry of Home Affairs, Ministry of Communications and Information, Monetary Authority of Singapore and Ministry of Commerce and Industry.
Amazon, Lazada, and Qoo10 each received the maximum rating of four ticks, while Shopee and Carousell received three and two ticks, respectively.
Facebook Marketplace received the minimum of one tick.
The six platforms are the first to be involved in the rankings, which will be released annually in April.
The committee also launched Revised Technical Reference 76 (TR 76) on Guidelines for Electronic Commerce Transactions, which provides guidelines to better secure electronic commerce transactions.
Minister of State for Home Affairs, Sustainable Development and the Environment, Desmond Tan, chairman of the committee, said the new rating system would make the e-commerce environment safer and reduce scams.
“Scams are something we watch closely and are concerned about,” he added.
“Essentially, the TSR is a rating system to inform consumers about the measures they should consider when transacting online and when buying goods online. And at the same time, we also give them information about e-commerce platforms, and what measures they have in place to secure online transactions.”
Ms Rose Tong, executive director of the Singapore Retailers Association, which helped revise TR 76, said the ratings helped both consumers and retailers.
She added: “With the ratings and all these features in place, it also gives retailers greater assurance that they are actually on a platform where consumers themselves would be very confident that they probably won’t be. not ripped off, and it actually also resonates and matches the brand image of the various retailers in the market.”