Mumbai: Trader who wanted to surrender life insurance policies loses Rs 2.17 lakh to cyber fraud - Expert News
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Mumbai: Trader who wanted to surrender life insurance policies loses Rs 2.17 lakh to cyber fraud

Mumbai: Trader who wanted to surrender life insurance policies loses Rs 2.17 lakh to cyber fraud
Written by Expert News

Cyber fraudsters posing as bank officials duped a 77-year-old senior citizen from South Mumbai bases of Rs 2.17 lakh. The cyber fraudsters approached the trader who wanted to surrender his life insurance policies, on the pretext of helping him in the process and to return his premium, and cheated him.

According to the police, the trader was paying premium for two life insurance policies, however he was unable to pay the premium last year because of which he wanted to surrender the policies. He sent an email to the bank asking them about the surrender procedure and return of premium amount that he had been paying so far.

In February, he received a call from one Rakesh Sharma. Sharma posed as a and asked the trader whether he wanted to surrender the policies. Sharma asked him to pay one more premium for both the policies after which Sharma told him that he would receive the entire amount, claimed the trader. As per Sharma directions, the trader transferred Rs 95,000 and Rs 50, 000 as a premium amount in the accounts given by Sharma.


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