Hyderabad: Elderly man duped of Rs 1.7 lakh in cyber fraud

The complainant received calls from the scammers between August 9 and November 3, offering zero per cent interest loan on an insurance policy worth Rs 10 lakh

Hyderabad: A 62-year-old businessman from the city has become the latest target to the cyber crooks, who duped him to the tune of Rs 1.7 lakh on pretext of ‘zero’ per cent interest loan on an insurance policy.

The complainant received calls from the scammers between August 9 and November 3, offering zero per cent interest loan on an insurance policy worth Rs 10 lakh.

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According to the cybercrime officials, the fraudsters claiming to be representatives of a reputed finance company, provided details via WhatsApp and asked the complainant to submit the application form. They instructed him to transfer Rs.80,000 as part of the process.

Later, the scammers demanded an additional Rs 56,050 for a health insurance policy to secure additional loan subsidies, which the complainant paid. Another caller informed that, due to his age, he needed a second 2-year health policy.

“The complainant made additional payments, but the promised loan was never approved. He realised being cheated and approached the police,” said a police official.

Case is under investigation.

(For cybercrime complaint, Dial 1930 or visit cybercrime.gov.in.)