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26 lakhs cheated in the name of insurance policy from a 58 year old woman, how to beware of such fraud?

Highlights

Police have registered a case of cheating against two people.
After retiring, went to invest in FD in a bank.
There was no talk of getting Rs 38 lakh in the plan document.

Mumbai. A case of fraud of Rs 26 lakh from a 58-year-old woman by luring her to get more money by investing in an insurance scheme has come to light in Thane district of Maharashtra. The police gave this information on Wednesday. Based on the complaint filed by the woman on Tuesday, Vithalwadi police have registered a case of cheating against two persons.

A police officer said that the woman had gone to invest in an FD account in a bank after retiring in 2020. An employee of the bank told the woman about a private insurance scheme where she would get Rs 38 lakh after 10 years after investing Rs 5 lakh for five years. The woman paid for two years, but found that Rs 38 lakh was not mentioned in the plan document, so she decided not to continue with the insurance.

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Contacted the woman by becoming an officer
The woman contacted the insurance company where a man posing as an officer of the Insurance Regulatory and Development Authority (IRDA), the official said. The man allegedly asked her to make several payments between October 2021 and February 2022 amounting to around Rs 26,66,137 on the pretext of helping the woman get her money back.

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Complaint lodged with police after cheating
When he did not get the money, he approached IRDA where he was told that no such person worked there. After this, the woman lodged a complaint with the police against both the accused. He said that no one has been arrested in the case so far. Police is continuously searching for the accused.

How to avoid this type of fraud?
1. Ask the insurance agent to show his identity card.
2. Never pay for the policy in cash.
3. Do not share your policy details with any unknown person.
4. Buy insurance policies online.
5. Report loss of policy document immediately.
6. Give identity certificates only to trusted people.
7. Be careful while transacting through internet kiosks or public networks.

Tags: bank fraud, banking fraud, business news, Insurance Company, online fraud

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