Rachakonda police nab fake insurance agents

HYDERABAD: Rachakonda cybercrime police on Thursday nabbed a group of fake insurance policy agents who cheated victims with the bait of large returns on fake policies.

According to reports, the complainant's father, a retired employee, received a call from a person imitating an insurance policy agent and seeking to invite additional individuals into policies for large returns.

The victim fell for the scam and joined 12 of his friends and family members. The accused lured the victim with a rosy picture of returns worth Rs 4 crores and collected Rs.1.60 crores by citing reasons for paying 18 percent GST from 2016 to 2022.

According to police, the three accused learnt how to defraud Insurance Policy holders while working in a fake call centre. They later decided to set up their own call centre to earn easy money. They hired the other three accused to work as telemarketers and took their bank account for ATM and bank withdrawals.

The fraudsters obtained the insurance policy holders' information from vendors, as well as the SIM cards and bank accounts of others through their associates. They began contacting policyholders with misleading promises of higher returns on existing policies and defrauded many people across India.

Similarly, they called the victim and offered huge returns on insurance policies and looted Rs 1.60 crores from him and his family members citing GST expenses, the release of DD payments, and other reasons.

A case was registered with the cybercrime police in Rachakonda based on victims' complaints. During the investigation, a special team arrested the accused in Ghaziabad, Uttar Pradesh, and brought him to Hyderabad on transit remand and produced him in court for judicial custody.

Mursheed Ansari (32), Vikas Singh (28), Tarun Sharma (35), Manish Tanger (34 yrs), and Lalith Kumar (27) were arrested in Ghaziabad, Uttar Pradesh..The police seized seven mobile phones, 14 SIM cards, one HP laptop, one hard disk, one SSS card, eight ATM cards, four passbooks, and Rs 1,50,000 net cash from the offenders.

Rachakonda police have cautioned citizens not to fall prey to such fake insurance agents offering high returns and to make payments through legitimate websites and payment gateways. To report cybercrime, call the helpline at 1930 or register a complaint at www.Cybercrime.gov.in.