A joint operation by Sector 24 police and the cyber cell on Tuesday exposed a fake insurance renewal scam, leading to the arrest of four individuals from Sector 11. The suspects allegedly defrauded policyholders from a well-known insurance company associated with a public sector bank, officers confirmed.
The scam involved the suspects contacting policyholders, claiming to offer insurance policy renewals. When the policyholders showed resistance, the fraudsters resorted to threats.
For the past two months, the gang operated a fake call center, deceiving customers with false promises of renewals and discounts. They posed as authorized representatives of insurance companies and even impersonated officials from the insurance ombudsman to establish credibility.
“The suspects had prior experience in the insurance sector and with a private bank (name withheld). Their knowledge of policies and access to personal data enabled them to defraud victims. They misled customers into making payments for bogus renewals and refunds under the pretext of administrative charges,” said Yamuna Prasad, Deputy Commissioner of Police.
The arrested individuals have been identified as Pankaj Kumar Singh (28) and Rahul Yadav (29), both from Delhi; Kushagra Pandey (24) from Noida; and Rajpal Singh (30) from Rajasthan. The police seized 16 mobile phones, policy documents, and other evidence from their possession.
The suspects used stolen data to access policyholder information, contacting victims with fake renewal offers. If the policyholders were hesitant, the gang threatened them with recovery actions. Several victims transferred money into accounts opened by the accused, believing the fraudsters’ tactics.
When the victims contacted the public sector bank for verification, they discovered that no renewals had been processed, which led to the discovery of the scam.
The fraudsters targeted individuals across Maharashtra, Gujarat, Tamil Nadu, and other states, operating from rented spaces to avoid detection. Authorities believe the gang defrauded around 10 to 12 individuals, with some victims losing as much as Rs10-12 lakh.
The police have identified the bank account used in the scam and are investigating further to determine if there are additional victims.
