Lazada Awarded Perfect Score in Singapore Government’s Anti-Scam Ratings

Lazada has maintained its full score in the latest edition of the E-commerce Marketplace Transaction Safety Ratings (TSR) conducted by Singapore’s Inter-Ministry Committee on Scams (IMCS). The eCommerce platform has been awarded the highest possible four-tick rating since the TSR was introduced in 2022.

The annual ratings indicate the extent to which an eCommerce marketplace has implemented safety features deemed critical by the IMCS, including measures to verify seller authenticity, monitor fraudulent seller behavior, provide secure payment options, maintain transaction records and user data, and provide reporting and dispute-resolution mechanisms. Lazada’s four-tick rating shows that it has successfully implemented these measures and that its efforts have been effective in combating scams.

According to the IMCS advisory, the number of scams reported on Lazada has dropped by more than 50 percent in 2023 compared to the previous year. This decrease is a testament to the eCommerce giant’s ongoing efforts to create a secure shopping environment for both buyers and sellers. The advisory also highlighted new measures introduced by Lazada to safeguard consumers, including extending its buyer confirmation period – a feature that releases payments on a product only when a consumer confirms receipt and satisfaction with the order – to 30 days for LazMall orders as well as enhancing its returns and refunds policy.

“We are honored to receive the highest safety ratings from IMCS for three consecutive years. This recognition validates the effectiveness of our ongoing efforts to implement robust safety measures and continuously improve our platform’s security features,” said a Lazada spokesperson. “We will continue to strengthen our existing protocols, invest in advanced technologies and strengthen our partnerships with law enforcement agencies. Our goal is not only to maintain these high standards but also to set new benchmarks for safety and security in eCommerce.”