In May 2022, the Inter-Ministry Committee on Scams (IMCS) launched the “E-commerce Marketplace Transaction Safety Ratings” (“TSR“) which apply to e-commerce marketplaces operating in Singapore. Under the TSR, e-commerce marketplaces are given an overall safety rating based on the extent to which they have implemented certain safety measures that are identified as critical in combating e-commerce scams.
At the same time, the Technical Reference 76 on Guidelines for Electronic Commerce Transactions (“TR 76“) was updated to include additional guidelines on measures which e-commerce marketplaces and e-retailers may implement to secure different areas of e-commerce transactions (namely, pre-purchase, purchase and post-purchase activities) from scams, customer support and merchant verification. The best practices recommended in TR 76 include anti-scam measures that would enable e-commerce marketplaces to score better on the TSR.
This Update provides a summary of the TSR and additional anti-scam measures set out in TR 76 which e-retailers and e-commerce marketplaces may implement to secure e-commerce transactions and enhance customers’ protection.
For more information, click here to read the full Legal Update.
