SINGAPORE — Facebook Marketplace and Carousell were the two lowest rated out of six e-commerce platforms based on the anti-scam features they have in place to secure e-commerce transactions, according to the Inter-Ministry Committee on Scams (IMCS).
The latest E-commerce Marketplace Transaction Safety Ratings (TSR) 2023, published on Thursday (4 May), is an annual update to the ratings assigned to major e-commerce marketplaces based on their security features.
The TSR was first published in May 2022 to provide consumers with information on the anti-scam measures major e-commerce platforms have in place. It covers e-commerce marketplaces that facilitate online transactions from multiple sellers to multiple buyers, with a significant local reach or a significant number of e-commerce scams reported.
The IMCS said it reviewed the e-commerce scams situation and refreshed the TSR in partnership with the six major e-commerce marketplaces, namely Amazon, Lazada, Qoo10, Shopee, Carousell, and Facebook Marketplace.
Overall ratings for 2023 were unchanged from last year, with Facebook Marketplace receiving only one tick while Carousell received two. Amazon, Lazada and Qoo10 all received four ticks, which is the highest possible rating and awarded to platforms with all the critical anti-scam measures in place. Shopee received three ticks, indicating that most but not all of the safety features have been implemented.
The number of ticks assigned to each marketplace indicates the extent to which they have implemented measures that are critical to safeguarding against e-commerce scams. These include user authenticity, transaction safety, availability of loss remediation channels for consumers, as well as the effectiveness of the platform's anti-scam measures.
The IMCS advised consumers to exercise greater caution when transacting on marketplaces without the above measures in place.
In 2022, there were 4,762 reported e-commerce scam cases in Singapore. This is an increase of 74.5 per cent compared to 2,729 cases in 2021. About 62 per cent of the cases reported in 2022 took place on Facebook and Carousell.