20 December 2001, Singapore - CommerceTrust Limited today announced that the National Trust Council (NTC) has appointed CommerceTrust as an Authorised Code Owner (ACO) for business-to-consumer (B2C) web-based retailers.

Following the appointment, CommerceTrust will be authorised to award the TrustSg seal to online merchants who are accredited under its ConsumerTrust Global Reliability Programme. The TrustSg seal will be accompanied by the ConsumerTrust trustmark and displayed by licensees of ConsumerTrust on their websites.

"We are pleased to welcome CommerceTrust as an ACO under the TrustSg programme," said Dr Wang Kai Yuen, Chairman of NTC. "As more businesses enter the global online environment, it has become increasingly important to help consumers identify reliable and trustworthy web-based retailers. We strongly encourage web-based retailers to adopt the TrustSg seal to distinguish themselves as players who are committed to sound e-business practices. In time, I am confident that the TrustSg seal will play a significant role in boosting consumer confidence to transact online".

"CommerceTrust is extremely honored to have passed the NTC's rigorous review and earned the ACO status," said Associate Professor Toh See Kiat, Chairman of CommerceTrust Limited. "We have long believed that third-party seal programmes such as ConsumerTrust and TrustSg can have a significant impact on industry's ability to create a trusted environment for online shoppers. This ACO appointment will certainly expedite our efforts to create a business environment on the internet that promotes consumer confidence and trust," added Professor Toh.

ConsumerTrust is a global trustmark initiated by CommerceNet Singapore (CNSG), a not-for-profit industry association for local companies that engage in electronic commerce and e-business. "By leveraging on CNSG's global network, CommerceTrust is in a unique position to ensure an equitable level of protection for consumers across national boundaries," said Mr Wong Jeh Shyan, Chief Executive Officer of CNSG. CNSG is also the secretariat for the International Trustmark Network (ITN), a global network that aims to promote mutual recognition and cooperation among trustmark awarding organisations.

The ConsumerTrust Code of Practice is based on the international practices of trustmarks established in the Organisation for Economic Cooperation and Development (OECD), Global Business Dialogue on Electronic Commerce (GBDe) guidelines and several other global regulatory standards. It focuses on issues such as disclosure of relevant information about goods or services offered, truthful and accurate advertising, dispute resolution as well as security and privacy of business transactions. It also pays special attention to help parents protect their children from potentially harmful materials on the internet.

To ensure that e-businesses are duly accredited, CommerceTrust is working with Société Générale de Surveillance SA (SGS), a renowned independent international certification organization from Switzerland, to perform the conformity assessments for its Global Reliability Programmes.

In addition to ConsumerTrust, CommerceTrust has entered into a joint venture agreement with ePublic Intelligence Inc. of the United States to expand the scope of its trustmark services. CommerceTrust will be working with US-based ePublicEye.com, a proprietary monitoring system that allows consumers to rate e-businesses for reliability, privacy and customer satisfaction, as an innovative way to promote safer e-commerce.

In the coming months, CommerceTrust will focus on creating consumer awareness and education on the role of trustmark accreditation in instilling trust and confidence online. For this purpose, CommerceTrust and CNSG will be hosting the 3rd ITN meeting to be held in April 2002 in Singapore. Trustmark awarding organisations from Hong Kong, Malaysia, Japan, Korea, Pakistan and the United States will be attending the meeting.

About CommerceTrust Limited

CommerceTrust Limited is formed with the primary objective to accelerate the development and promotion of trust in both the physical and internet business environment by providing a benchmarking framework for trust. Its mission is to be a global leader in building trust and confidence by providing trustmarks that facilitate business transactions.

CommerceTrust's Global Reliability Programme is customised to meet the different requirements of specific industries or categories of businesses. Each programme has a representative trustmark that is distinctive and easily recognisable. Currently, three distinctive trustmarks are issued: ConsumerTrust, PrivacyTrust and BusinessTrust.

CommerceTrust Limited is initiated by CommerceNet Singapore (CNSG), a not-for-profit industry association for companies that engage in electronic commerce and e-business. CNSG is part of a global consortium of business partners spread over 20 countries. Its mission is to make electronic commerce easy, trusted and ubiquitous.

About PrivacyTrust

PrivacyTrust is a Global Reliability Programme that aims to meet international practices in personal data protection. The PrivacyTrust Code of Practice is based on the standards embodied in the National Internet Advisory Committee (NIAC) E-Commerce Code for the Protection of Personal Information and Communications of Consumers of Internet Commerce, the OECD's Guidelines Governing the Protection of Privacy and Transborder Flows of Personal Data (1980), the EU-US Safe Harbour Agreement as well as the EU Data Protection Directive 95/46.

The PrivacyTrust Global Reliability Programme serves to provide assurance to consumers that their privacy rights would be respected. The PrivacyTrust mark is not only a symbol of trust that provides consumers with a privacy-friendly environment, it is also a mark that signifies a reliable and consistent method by which businesses can demonstrate their conformity to international data protection standards and enhance their ability to thrive in the markets of the developed world.

Issued by CommerceTrust Ltd
For Further information, please contact:

CommerceTrust Limited
35, Selegie Road,
#09-25, Parklane,
Singapore 188307
Tel: 65 - 6337 2368   Fax: 65 - 6337 7108
Email:commercetrust@cnsg.com.sg