Bizman Loses ₹48 Lakh In Bogus Insurance Policy Fraud


FPJ Cyber Secure: Bizman Loses ₹48 Lakh In Bogus Insurance Policy Fraud | FPJ Cyber Secure

The police have registered a case against two persons for allegedly duping a 49-year-old businessman to the tune of Rs48 lakh in a bogus insurance policy fraud.

Details of fraud

According to the police, on June 24, the complainant, a resident of Badlapur, received a call from a person who claimed to be calling from a life insurance company from Delhi. The caller told the victim that the call was related to the renewal of his life insurance policy with the company. However, he told the caller that he had not taken any policy.

The caller told the victim to pay Rs90,000 and promised him Rs8 lakh in return. The complainant then sent the said amount in a bank account number provided by the fraudster.

Later, the man received a call from another person who also claimed to be calling from the same insurance company. The complainant was told that he would have to pay another Rs1.18 lakh to keep the policy continuing forever.

Police registers case under IT Act

Later, the caller told the man that his policy amount was Rs46.85 and he made a demand draft in the victim’s name and shared it with the victim on WhatsApp.

The caller also told the victim that if he paid the money as directed by him, he would be entitled to double returns. The unsuspecting victim ended up paying Rs48 lakh to the scammers. However, even after paying a huge amount, when the victim did not get his money, he realised that he had been duped. He then approached the police and got an offence registered in the matter on Saturday.

The police have registered a case under sections 66C (identity theft), 66D (cheating by personation by using computer resource) of the Information Technology Act.

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