Insurance Scam: A retired bank manager lost Rs 2.22 crore in an insurance scam. Scammers posed as government officials and lured him into buying multiple insurance policies. Let us tell you ways to avoid such scams.
Insurance Fraud: A 62-year-old retired bank manager from Pune lost Rs 2.22 crore in an insurance scam. The scammers posed as government officials and lured her into buying several insurance policies. They said that these policies would benefit her a lot and repeatedly asked her to give money by making different excuses. By the time the manager realized the scam, it was too late.
How did this scam happen?
According to reports, the scam started in late 2023 and lasted for several months. The scammers contacted the victim and introduced themselves as representatives of organizations like the Ministry of Finance, Insurance Regulatory and Development Authority of India (IRDAI) and National Payments Corporation of India (NPCI). The victim fell into their trap and thought that these were real officials. The scammers told the victim about the insurance policies.
Transferred a large amount
The victim bought several insurance policies believing the offers to be true. However, the scammers did not stop here. They repeatedly asked for money on various pretexts like GST, TDS, processing fees and verification charges. Believing the scammers, the woman gradually transferred a large amount. She was unaware that she was being defrauded.
These are the methods used by the scammers
To carry out this fraud, the scammers used 19 different identities. Whenever the woman got suspicious, they would make false promises or warn her of losses. Then the scammers told the victim that her old payments had been transferred to fake accounts, so that she started making more payments to get back her lost money. When the victim came to know about the scam, she lodged a complaint with the police. The authorities have started investigating the case.
Tips to stay safe from insurance scams
Verify calls from financial institutions – Always verify the authenticity of callers through official websites or customer service numbers.
Do not share sensitive information – Avoid sharing your bank details, OTP or policy number with unknown persons.
Beware of offers – Beware of offers that promise you to earn more money at a low cost. Scammers often lure you with high returns.
Be careful before making payment – Before making any payment, verify the charges like GST or processing fees from the concerned institution.
