HomeInsuranceMumbai: 5 Arrested on Nearly LVL 20 Insurance coverage Fraud | ...

Mumbai: 5 Arrested on Nearly LVL 20 Insurance coverage Fraud | Mumbai Information


Mumbai: 5 folks have been arrested by cyber police within the Northern Area for defrauding a suburbanite price Rs 19.27 million as a part of an insurance coverage fraud. Police mentioned the three defendants have been former staff of personal insurance coverage corporations.
The fraud came about between June 2020 and March 2021. The applicant acquired calls from totally different women and men, claiming that they have been managers of two personal insurance coverage corporations. They provided him the next revenue if he purchased an insurance coverage coverage from them. Subsequently, one of many gang members, posing as an worker of the Insurance coverage Regulatory and Improvement Authority (IRDA), additionally tricked him into parting with 19 lakhs for an interest-free mortgage and a pension of as much as 94 lakhs. Realizing that he had been deceived, the applicant approached the law enforcement officials.
By monitoring the decision information of the “IRDA officer”, the police concluded that the quantity had tampered with the KYC information. The gross sales supervisor of the phone service supplier was discovered to be concerned. He was taken from Ghaziabad to UP. Upon additional investigation, the police established that he was related to the SIM card vendor. It turned out that the defendants used genuine paperwork belonging to clients, contacting the shop of the SIM card vendor to activate the SIM card in their very own title. These SIM playing cards have been used to trick folks with insurance coverage scams.





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