Abstract

The case “Paytm Employing Technologies and Tools to Fight Cyber Fraud” discusses the technologies and tools employed by Paytm, one of India’s leading e-commerce and digital wallet companies. The case starts out by going into the reasons for the vulnerability of a digital payments company like Paytm to fraud. Though there are cyber laws in India to check fraud in digital payment systems, companies such as Paytm, continued to be easy targets of fraudsters. The case then provides an overview of the kind of frauds encountered by the customers of Paytm, the loss borne by them, and the various measures taken by Paytm to counter the frauds. Later, the case describes in detail the different tools and technologies like Data Encryption, Data Intrusion Detection Systems, and Artificial Intelligence that were adopted by Paytm to combat fraud. Vijay Shekhar Sharma (Sharma), Founder and CEO of Paytm, was confident that the security measures deployed by Paytm would be effective in combating cyber fraud. The question is, can Paytm maintain the same level of security in future considering the ever-shifting fraud landscape?

Learning Objectives

The case is structured to achieve the following Learning Objectives:

• Understand the issues and challenges involved in maintaining a secure management information system (MIS).
• Recognize why systems are vulnerable and discover internet vulnerabilities.
• Scrutinize the business value of providing efficient security.
• Explore ways to establish a network of reliable and safe online transactions.
• Discuss the tools available for detecting fraud and intruders in an organization’s systems.

Keywords

Information Security; System Vulnerability And Abuse; Cyber Fraud; Technology in Financial Services; Financial Scams and Frauds; Fraudulent Practices in Financial Payments; Legal and Regulatory Requirements for Security; Business Value of Security; Advancements in Information Systems; Data Systems; Data Management; Firewalls; Intrusion Detection Systems; Identity Management and Authentication; Data Security