Although Singapore's online advertising sector accounted for a paltry 4.8 per cent of the total advertising expenditure in 2007, the outlook for this young industry is promising.
As users spend increasingly more time online, a growing number of companies are launching commercials online to grab their attention, said Kalwar. By 2013, online advertising is expected to account for more than 9.3 per cent of Singapore's total advertising expenditure.
Fraud, however, is a major challenge for the industry, noted Kalwar. Issues such as advance fee fraud, click fraud, credit card fraud, foreign exchange scam, employment scam, phishing and wire fraud, among many others, affect online businesses.
This has a negative impact on the confidence of buyers and sellers. It is important for the online industry to make a united effort in curbing online fraud to increase advertiser confidence in the online media, said Kalwar.
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