EY examine cashback fraud at Paytm Mall

Tech-driven system to prevent fraud

E-commerce platform Paytm Mall has engaged consulting and audit major EY to investigate a cashback fraud involving some of its employees and merchants, according to sources.

Some staff of the Alibaba-backed company allegedly worked with third-party vendors and created fake orders to siphon off cashback offers.

According to sources close to the development, the investigation has been going on for almost a fortnight and some employees have also been fired.

When contacted, Paytm Mall, in an e-mailed statement said, under the partnership,

EY will “undertake frequent audits to identify, analyse and monitor various in-built and outsourced processes.”

It will also recommend global practices that will be applied to build a tech-driven fraud prevention system.

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