Retired Bank Manager Defrauded Of Rs 2.22 Crore In Cyber Insurance Scam In Pune

Retired Bank Manager Defrauded Of Rs 2.22 Crore In Cyber Insurance Scam In Pune
A retired bank manager from Pune has fallen victim to a cyber scam, losing Rs 2.22 crore after being deceived by fraudsters posing as government officials offering lucrative insurance policies. The scam, which began at the end of 2023 and continued until recently, involved multiple calls from the fraudsters, who convinced the woman to purchase several policies under the pretext of high maturity benefits.
The victim, a 62-year-old woman from Pimpri Chinchwad, was contacted by the scammers, who assumed 19 different identities. These individuals falsely claimed to be from various government bodies, including the finance ministry, National Payments Corporation of India (NPCI), Insurance Regulatory and Development Authority (IRDAI), and even the Ministry of Finance. The fraudsters also misused the name of Deendayal Upadhyaya, a late leader of the Bharatiya Jana Sangh, to make their claims seem legitimate.
According to the Pimpri Chinchwad police, the scammers not only encouraged the victim to buy numerous insurance policies but also tricked her into transferring large sums of money as processing charges, including GST, income tax, TDS, transaction fees, verification charges, and NOC charges.
The fraudsters continued to manipulate the woman by claiming that her previous payments had gone to fraudulent accounts and demanded additional funds to recover the lost money. The victim, believing the scammers’ false claims, transferred more money, eventually losing Rs 2.22 crore.
The victim reported the scam to the police, leading to the filing of a First Information Report (FIR) on Tuesday. The Pimpri Chinchwad police have launched an investigation into the case to track down the perpetrators.
This incident highlights the growing menace of cyber fraud, especially involving deceptive financial schemes targeting vulnerable individuals.