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Shopee signs MoU with Pharmaceutical Security Institute to combat fake pharma products

Shopee signs MoU with Pharmaceutical Security Institute to combat fake pharma products
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Singapore – Regional e-commerce platform Shopee has signed a memorandum of understanding (MoU) with non-profit organisation Pharmaceutical Security Institute (PSI) to combat the sale of counterfeit pharmaceutical products online.

The MOU affirms both Shopee and PSI’s commitment and dedication to protecting public health against counterfeit medicines and is part of Shopee’s increased efforts to tackle counterfeits on its platform.

The MOU was signed virtually by Terence Pang, chief operating officer at Shopee; and Todd Ratcliffe, president and chief executive officer at the Pharmaceutical Security Institute

Under this partnership, Shopee and PSI will collaborate closely on initiatives for both sellers and shoppers. This includes educational programmes and the sharing of industry best practices to inform sellers, as well as awareness campaigns to protect shoppers.

Pang said, “Shopee looks forward to partnering with the PSI as part of our ongoing efforts to ensure a safe and trusted marketplace environment for brands and shoppers to transact. The safety of our shoppers is our priority and we are always looking for ways to enhance our platform and better protect users. This includes partnerships with leading organisations such as the PSI, which allows us to tap on industry knowledge and best practices to strengthen our current measures against counterfeits, and allow users to shop with greater confidence.”

Meanwhile, Ratcliffe commented, “The PSI is pleased to partner with Shopee in our ongoing journey of protecting public health. Recently, we have noticed an increase in the number of seizures of counterfeit pharmaceutical products, the result of bad actors taking advantage of easing pandemic restrictions and new opportunities. It is important for the PSI to work closely with key e-commerce platforms like Shopee to increase public education and awareness on counterfeit medicines to protect consumers. Together with Shopee, the PSI looks forward to rolling out new initiatives that make e-commerce a safe and secure way to shop.”

The MoU is part of Shopee’s increasing efforts to make e-commerce safer for its community of sellers, shoppers and partners, by collaborating with key stakeholders including industry associations and government bodies to collectively combat counterfeit goods.

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