Introducing New Seller Verification Measures
To provide a safe and trusted shopping experience, our marketplace is implementing new seller verification requirements in compliance with the federal INFORM Consumers Act.
Effective June 27, 2023, the INFORM (Integrity, Notification, and Fairness in Online Retail Marketplaces for Consumers) Act requires online marketplaces like ours to collect and verify key information about high-volume third-party sellers. Sellers who do not meet the criteria of a “high-volume third-party seller” under the INFORM Act are not required to comply with the new verification and disclosure requirements, however, Hmong Network is choosing to apply the INFORM Act’s requirements more broadly to increase transparency and build trust.
Specifically, we will be collecting the following information from sellers who meet the criteria of a high-volume third-party seller:
- Government ID
- Tax ID
- Bank account information
We will verify this information within 10 days of receipt. This will help ensure sellers are who they claim to be and make it easier for law enforcement to track down bad actors if issues arise.
Promoting Transparency and Accountability
At our marketplace, we strive to cultivate a community of honest sellers and provide customers with confidence in their purchases. The INFORM Act supports these goals through increased transparency and seller accountability.
We will also be disclosing certain information about high-volume sellers to consumers directly on product pages, such as the seller’s name, business address, and contact information. This will give customers greater visibility into who they are buying from.
While implementing these changes will require adjustments, we believe the long-term benefits are well worth it. The INFORM Act aims to weed out fraudulent sellers and counterfeit products – making way for a safer, more trustworthy marketplace.
We look forward to working with our seller community to comply with the INFORM Act and further promote trust in our platform. Please reach out with any questions.
Without this information, we may need to put your payouts or account on hold. Once all of your information is collected and verified, you’ll be ready for your next sale.
Without this information, we may need to put your payouts or account on hold. Once all of your information is collected and verified, you’ll be ready for your next sale.
The INFORM Consumers Act is designed to create a safe and transparent online buying process. This law requires online marketplaces like Hmong Network to collect, verify, and disclose certain information about high-volume sellers to their buyers.