Hyderabad cyber fraudsters target citizens with fake insurance renewal scams

Cyber fraudsters in Hyderabad pose as insurance reps, targeting citizens with fake policy renewal scams via calls and emails. They create urgency, tricking victims into payments or sharing details. Verify directly with insurers

Hyderabad: Cyber fraudsters are targeting unsuspecting citizens by posing as insurance company representatives and tricking them into paying money under the pretext of renewing lapsed policies, insurance transfers and renewals under the pretext of technical problems.

Scammers have been contacting individuals through phone calls and emails, claiming their insurance policies are about to expire or have already lapsed.

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The victims are pressured to make immediate payments to avoid cancellation of their policies and the fraudsters often send official-looking emails with links that redirect users to fake websites resembling those of genuine insurance companies.

Cybercrime officials said that such cases account for about 30 per cent of the cases received in the last three months. Fraudsters are pressuring people to pay money through the links they send, threatening that the deadline will end soon and that if they do not pay it now, money will be lost. Incidentally, most of the victims who have been deceived in this way were found to be educated and elderly.

A senior official from the Cybercrime Wing said fraudsters create a sense of urgency, warning people that their policy benefits will be lost if they do not act immediately. They then extract sensitive details or convince victims to transfer money to fraudulent accounts.

Insurance details, their deadlines, and other information are known only to the policyholders and the insurance companies. However, cybercriminals are said to be buying this personal information from third parties.

Data providers and broking companies provide details of policyholders for a fee ranging from Rs. 10,000 to Rs. 50,000. This includes policy details, their deadlines, vehicle numbers, their insurance policies, etc., which are completely personal details. With this information, cyber criminals are calling and sending messages to policyholders.

Some policyholders are being tricked into giving them bank account details. After that, they are withdrawing the money from their accounts. Among such people, retired employees and those who think that their policy will expire in a few days are being lured into giving away their account details. Sometimes, the victims are lured with promises of prizes if they pay in advance, according to the cybercrime police.

Authorities are currently investigating multiple complaints and have urged citizens to stay vigilant and not fall for the designs of the fraudsters. They instead of being hurried into making payments or sharing details when asked, should check for authenticity of the callers.

Police Advisory:

* Fraudsters trapping victims with insurance renewal calls

* Victims are warned their policies are lapsing and rushed into sharing details

* Do not click on links from unknown emails or messages.

*Do not share personal or financial information over the phone.

*Always verify renewal requests by contacting your insurer directly using official contact details.

*Report any suspicious communication to the police or the National Cyber Crime Reporting Portal (www.cybercrime.gov.in).