Man duped of ₹5.81 lakh in ‘insurance payout’ scam

A 58-year-old private sector employee from Secunderabad became a victim of an insurance reimbursement scam, losing ₹5,81,606 to fraudsters posing as officials from a fictitious IGMS Department.

The victim, who held multiple insurance policies with companies, was contacted by fraudsters who claimed that he was entitled to a payout from various insurance companies.

“Gaining the victim’s trust, the fraudsters instructed him to pay 5% of the supposed payout amount into an account under the name ‘NPCI SERVICES’. Believing the claim to be legitimate, the victim made the payment using his credit card. Shortly afterwards, a man posing as an accountant from NPCI contacted him, providing further assurances regarding the payout process,” said the police.

Subsequent calls from the fraudsters demanded additional payments under various pretexts, including the release of funds and final processing fee. The victim, convinced by their assurances, made another payment using his second credit card. “When the fraudsters requested a final payment to clear his file, he withdrew an advance from his Provident Fund and transferred the amount from his savings account to the alleged NPCI Services account,” said the police.

Despite multiple follow-ups, the scammers repeatedly delayed the reimbursement process, citing reasons such as elections in Maharashtra, a change in government, and elections in Delhi. Eventually, all communication ceased, and the victim realised he was defrauded. He then lodged a complaint with the authorities seeking assistance.

Cybercrime officials warned that fraudsters are specifically targeting individuals with multiple insurance policies by falsely claiming to offer reimbursements. These scammers use fake case file numbers and impersonate officials from the IGMS Department to gain victims’ trust.

Victims of such scams should report the incident immediately by calling 1930 or filing a complaint on www.cybercrime.gov.in. For urgent cyber fraud assistance, citizens can also call or WhatsApp 8712665171.