[ 25-26 September 2000 ] CommerceNet Singapore at Internet Fraud Forum 2000 in Hong Kong

CommerceNet Singapore (CNSG) introduces the fact that most ‘fraud’ is essentially misunderstanding or arises from the misalignment of expectations between the transacting parties. The remainder part of fraud arises from intentional bad-faith. The 2-days ‘Internet Fraud Forum 2000’ event was chaired by Mr. Robert Neely, Director of CommerceNet Hong Kong/China (CNHK/China).Mr. Wong Jeh Shyan, the CEO of CNSG touched on the development and implementation, including public and merchant education of Pan-Asian and Global trustmarks and the problems they faced in the various Internet markets. Mr. Wong’s session presented the idea of using trustmarks to identify the more able and better transaction parties. He stressed that increased levels of transparencies are essential towards fraud management.Mr. Wong also touched upon the need to understanding benchmarking in global trustmark market. He also pointed out that the issue of promotion, liaison and public education should be undertaken by private sector. He shared with the delegates some practical issues in implementing trustmark in various market.Mr. Robert Neely of CNHK/China spoke on the trend of security perception and priorities. He highlighted the big picture or immediate issue in security varies according to the market condition in different country. Security and prevention of Internet fraud is an industry issue. There are various attempts by governments to regulate or control the spread of Internet fraud. However, the appropriate redress may best be led by industry consortiums comprising of private sector companies. He also highlighted that while there is not lacking of these consortiums, there is actually very little coordinated efforts to combat Internet fraud in a global scale.Also presented in the forum are topics on forensic investigation into fraud and personnel training to prevent fraud. The event held at Conrad International Hotel in Hong Kong attracted strong participation from key players in security industry.