Paytm Mall Says Up To Rs. 10-Crore Cashback Fraud Detected
Posted On : Wednesday, May 15, 2019, 12:02 PM
Paytm Mall on Tuesday said it has been hit by a cashback fraud which could be in the range of Rs. 5-10 crore. The fraud was detected through a tool that the company developed in partnership with global professional services firm EY (formerly Ernst and Young), said a Paytm Mall spokesperson. He said Paytm went for a deeper audit after it found that some small sellers were getting a large percentage of the cashbacks offered at Paytm Mall. The audit reportedly revealed that a number of employees were colluding with junior employees to earn the cashbacks.