A 62-year-old businessman from the city became the latest victim of a scam which offered a 0% interest loan on an insurance policy worth ₹10 lakh.
According to the Hyderabad Cybercrime police, the victim received a series of calls between August 9 and November 3, 2024. The fraudsters, posing as representatives of Bajaj Finance Company, asked the victim to submit an application form through WhatsApp for India First Life Insurance’s ‘Guaranteed Pension Plan’.
They instructed the victim to transfer ₹80,000 to their Paytm Yes Bank account. Later, the scamsters demanded ₹56,050 for a health insurance policy to secure additional loan subsidies, which the victim paid to an account on the name of ‘Kuzalin Services Pvt. Ltd.
Another call informed the victim that, due to his age, he needed a second two-year health policy. The victim made additional payments, but the promised loan was never approved. The victim transferred over ₹1.73 lakh in total.
The victim lodged a complaint and investigation is under way.
Published - November 08, 2024 06:29 pm IST
