The Department of E-commerce under the Ministry of Industry and Trade onJune 15 introduced a system to assess the trustworthiness of e-commercewebsites in Vietnam in a bid to protect local customers from onlinetrade frauds.
Built in cooperation with Thang Long IndochinaJoint Stock Co, a prominent online security firm in Vietnam, the systemwas designed to provide consumer with concrete information on e-commercewebsites, which have seen the set-up in the hundreds in recent years.
Thesystem will evaluate each e-commerce site basing on credibility,payment method, internet environment and quality of traded products. Theresult will be published on the trade and industry ministry's websiteat www.moit.gov.vn.
Online trade has experienced growth, thanksto its convenience and diverse offerings of goods. The sector generatesrevenue of 2 billion USD each year in Vietnam.
However, recentcases of fraud by e-commerce websites have raised serious concerns amongconsumers over the credibility of this model of trading.
It isexpected that the e-commerce website evaluation system will help improvethe e-commerce environment and protect consumers from fraudulentwebsites.
According to a recent Government decree which came toeffect in January, unregistered e-commerce websites will be finedbetween 20-30 million VND (950-1,430 USD).
Meanwhile, trading in fake products on e-commerce sites is subject to fines of 40-50 million VND (1,900-2,380 USD).
Fakegoods will be confiscated and the website will be forced to suspendoperations from six months to a year. The domain name may also berevoked.
Figures from the Ministry of Industry and Trade showthat about 1,889 online retail services are in their process ofproviding information.
Another 175 e-commerce providers areundertaking registration with the Vietnam E-Commerce and InformationTechnology Agency (Vecita) under the Ministry of Industry and Trade.
This number is quite small compared to the thousands of sites in operation.
Recently,Vecita and the Hanoi Market Watch Department fined 30 million VND(1,410 USD). Managed by Nam Viet Industrial Production Company in HoangMai district, the site had not been registered.
Hoa Nam Import-Export JSC was also fined 30 million VND for the same offence.-VNA
Built in cooperation with Thang Long IndochinaJoint Stock Co, a prominent online security firm in Vietnam, the systemwas designed to provide consumer with concrete information on e-commercewebsites, which have seen the set-up in the hundreds in recent years.
Thesystem will evaluate each e-commerce site basing on credibility,payment method, internet environment and quality of traded products. Theresult will be published on the trade and industry ministry's websiteat www.moit.gov.vn.
Online trade has experienced growth, thanksto its convenience and diverse offerings of goods. The sector generatesrevenue of 2 billion USD each year in Vietnam.
However, recentcases of fraud by e-commerce websites have raised serious concerns amongconsumers over the credibility of this model of trading.
It isexpected that the e-commerce website evaluation system will help improvethe e-commerce environment and protect consumers from fraudulentwebsites.
According to a recent Government decree which came toeffect in January, unregistered e-commerce websites will be finedbetween 20-30 million VND (950-1,430 USD).
Meanwhile, trading in fake products on e-commerce sites is subject to fines of 40-50 million VND (1,900-2,380 USD).
Fakegoods will be confiscated and the website will be forced to suspendoperations from six months to a year. The domain name may also berevoked.
Figures from the Ministry of Industry and Trade showthat about 1,889 online retail services are in their process ofproviding information.
Another 175 e-commerce providers areundertaking registration with the Vietnam E-Commerce and InformationTechnology Agency (Vecita) under the Ministry of Industry and Trade.
This number is quite small compared to the thousands of sites in operation.
Recently,Vecita and the Hanoi Market Watch Department fined 30 million VND(1,410 USD). Managed by Nam Viet Industrial Production Company in HoangMai district, the site had not been registered.
Hoa Nam Import-Export JSC was also fined 30 million VND for the same offence.-VNA
