Two held in Rs 63 lakh insurance fraud case

Hyderabad Cybercrime Police have arrested two men from Ghaziabad in connection with a Rs 63.4 lakh insurance fraud. The accused supplied bank accounts for laundering scam proceeds and are linked to at least six such frauds nationwide.

Hyderabad: The Hyderabad Cybercrime police arrested two individuals from Ghaziabad in Uttar Pradesh, for their involvement in a Rs 63.4 lakh insurance fraud.

The suspects, identified as Devash Rastogi (31) and Jitendra Agarwal (32), were supplying bank accounts used for fraudulent transactions.

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According to police, the duo is involved in at least six similar cases across the country, including one in Hyderabad, where a 58-year-old man was duped after receiving calls from individuals posing as officials of the “Insurance Intelligent Grievance Monitoring System (IGMS) Department.”

“The fraudsters had promised reimbursement of over Rs 63 lakh from multiple insurance companies but demanded a 5 per cent processing fee. Believing the claim, the complainant transferred a total of Rs 4 lakh through credit card,” cybercrime officials said.

Police said the fraudsters assured the victim that the payments were being made to NPCI services, not to individuals, and lured him with false assurances of high returns. Once the money was paid, the accused stopped responding.

Victims of cybercrime can immediately dial 1930 or visit cybercrime.gov.in for assistance.