All you need to know about SSM BizTrust


What is SSM BizTrust

SSM BizTrust is a standard that can be obtained by online business entities via SSM, which certifies that the entity has complied with the characteristics of the trust principles and criteria that has been established including business registration, online security and protection of information.

What is the role of SSM in BizTrust

In Malaysia, the online business industry is rapidly growing and the government has been promoting online business aggressively. SSM BizTrust enables Malaysia online business entities to capitalize on the rapidly growing industry. SSM BizTrust is a means to improve the acceptance of online businesses through bolstering customer and consumer confidence.

Why entities such as a company, businesses or LLP need BizTrust

  • Each entity, including companies, businesses or partnership carrying out business online, need to showcase trustworthiness to the consumers that it has fulfilled the characteristics of ethical business conduct
  • SSM BizTrust serve as a symbol that the online business entities that have met the policies that have been set. Furthermore, customers or users will be more confident in the business and would not hesitate to conduct business with SSM BizTrust accredited entities


Online Trader

May display the seal on the website to validate that the website has been examined by Suruhanjaya Syarikat Malaysia (SSM). Online trader may not place its marks or logos alongside to the seal, as to suggest that it is the source of the BizTrust services.
BizTrust Seal must not be smaller than any other Trust Services or third party assurance seals.

 

Monitoring Seals

Once a BizTrust Seal is issued, the online trader may continue to display the seal on its web site and will have to renew the issuance periodically. However, if the online trader is no longer in compliance, the online trader must remove the seal from its web site. The interval between updates should never exceed twelve months. This interval may depend upon the complexity of the online trader’s operation; the frequency of significant changes to the online trader’s systems, policies and disclosures; and the SSM’s professional judgment.

Seal Renewal

The seal will remain valid for one year, plus a ninety day grace period, unless it is revoked or suspended. The grace period is provided to allow sufficient time for completing the follow-up review. Revoking or Suspending Seals If SSM determines that the online trader’s systems, policies and disclosures fail to comply with the BizTrust Services Principles and Criteria at any time or if the online trader fails to renew the seal through a follow-up review at the end of one year, SSM will immediately notify the online trader and advise that the seal must be removed from the online trader’s web site and any printed or online materials. SSM will also suspend all the relevant links from the active BizTrust Services web site using the Seal Management System and notify the local institute of certified public accountants or equivalent.

Restoring Seals

SSM may restore a BizTrust Services Seal after it has been revoked or suspended if an unqualified report can be rendered. SSM may either reinstate the original report if it is once again accurate or issue a new report.