Wednesday, August 11, 2010

Only 60% of online businesses registered - The Star Malaysia

JOHOR BARU: Only 60% of the 2,000 local online e-business operators have registered with the Companies Commission of Malaysia (SSM), said enforcement unit senior director Muhammad Redzuan Abdullah.

He said the commission was monitoring online businesses to prevent consumers from being cheated.
“We receive an average of eight such cases yearly. Among them are customers who had made payments but did not receive the goods they ordered and get-rich-quick scams,” he said, adding that foreigners were among those who were cheated.
Muhammad Redzuan said SSM usually advised complainants to make a police report while the commission conducted its own investigations.
Errant business operators could be charged under Section 12(i)(a) of the Registration of Business Act 1956, which carries a one-year prison sentence and a maximum RM50,000 fine upon conviction.
“It is important for online business owners to register with SSM to enable better monitoring,” he said. Applicants just need to log in to the commission’s website at www.ssm.com.my.
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