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Alibaba to fight fraud on website
By Ding Yining |
September 13, 2010, Monday
|
Print Edition
Print Edition
ALIBABA Group will crack down on fraudulent online transactions on its e-commerce website to protect its B2B platform and to ensure that trading is secure.
It will strike off about 1,000 merchants suspected of ficticious trading to protect the security of transactions on its B2B platform, David Wei, chief executive officer of Alibaba.com, said in Hangzhou over the weekend.
"There will be a series of upcoming plans and movements to ensure safe trading for small businesses and we'll spare no efforts to crack down on these traders," he warned.
The company will also establish a special fund which will be used to eliminate fraudulent transactions and target any group that may trade fraudulently on the website.
Besides these measures Alibaba.com will enhance a credit tracking system that monitors online trading on its platform.
It will strike off about 1,000 merchants suspected of ficticious trading to protect the security of transactions on its B2B platform, David Wei, chief executive officer of Alibaba.com, said in Hangzhou over the weekend.
"There will be a series of upcoming plans and movements to ensure safe trading for small businesses and we'll spare no efforts to crack down on these traders," he warned.
The company will also establish a special fund which will be used to eliminate fraudulent transactions and target any group that may trade fraudulently on the website.
Besides these measures Alibaba.com will enhance a credit tracking system that monitors online trading on its platform.
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