Singaporean marketplace reports up to 136% ecommerce scams

Monday 27 August 2018 00:32 CET | News

The number of ecommerce scams on Carousell, a Singapore-based retail platform, has risen by 136% in the first half of 2018.

According to figures released by the Singapore Police Force, there were 1,020 reported scams on Carousell from January to June 2018, up from 432 cases in the same period in 2017. The cases on Carousell accounted for 80% of all ecommerce scams in the period this year, with close to USD 550,000 being lost.

According to the police, such scams on Carousell usually involve electronic items and tickets, especially tickets to Universal Studios Singapore. Fraud can occur across any categories, although most of the scam cases happened in certain categories such as tickets and vouchers.

In June 2018, Carousell launched CarouPay, an escrow payment system that protects buyers from ecommerce scams. Under CarouPay, payment will be released to the sellers only after buyers have acknowledged the satisfactory receipt of the items purchased.

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Keywords: Carousell, ecommerce, ecommerce scams, online security, fraud prevention, Singapore, statistics
Countries: World

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