A Navi Mumbai senior citizen was defrauded of ₹64 lakh by cyber criminals impersonating insurance regulators, highlighting the growing threat of online financial scams.
Key Points
- A Navi Mumbai resident lost ₹64 lakh to cyber fraudsters posing as insurance officials.
- The fraudsters used tactics such as promising recovery of matured funds and fabricating charges.
- The victim was induced to transfer money through 32 separate transactions over four years.
- The scam escalated when the victim was asked to open new bank accounts and courier ATM cards.
- Police are investigating the cyber fraud, tracking mobile numbers and email IDs linked to the suspects.
A senior citizen in Navi Mumbai was allegedly swindled of Rs 64 lakh over four years by cyber fraudsters, who posed as insurance regulators and grievance officials, police said on Sunday.
The Navi Mumbai Cyber Police registered an FIR on April 20 under sections 318(4) (cheating) and 319(2) (personation) of the Bharatiya Nyaya Sanhita (BNS) and provisions of the Information Technology Act, an official said.
How The Cyber Fraud Unfolded
According to the 62-year-old complainant, his ordeal began in January 2022 when he received a WhatsApp call from a man posing as an official from the Insurance Regulatory and Development Authority (IRDA).
The caller promised to facilitate the recovery of matured funds from an insurance policy, provided the victim first purchased new policies from various private insurers, the official said.
Over the next two years, the victim received calls from another accused posing as the director of the Integrated Grievance Management System (IGMS), promising to recover the initial payments.
Sophisticated Tactics Used By Fraudsters
Under the guise of various fabricated charges - including "Agent Code Removal Fees," "FDR Fees," and "State Level Tax" - the fraudsters induced the victim to transfer Rs 64 lakh in 32 separate transactions from both his and his brother's bank accounts, the official said.
The scam escalated when the unidentified accused convinced the victim to open new bank accounts and courier the ATM cards to addresses in Indrapuram, Ghaziabad, he said.
The victim realised he had been duped after receiving a legal notice from the Yashwanthapur police station in Kerala, stating that his accounts were being used for criminal activities, he said.
Police Investigation Underway
The official said that the police have launched a probe and are currently tracking several mobile numbers and an email ID linked to the suspects.
