Rachakonda: The Rachakonda Cyber Crimes Police in India have busted a fraud involving insurance policies and arrested six people, including the mastermind Ranga Sai Harsha, who is an employee of a prominent private insurance company. The fraud involves the surrender of policies of some customers who are not in touch with the insurance company for a long time or whose policies are unclaimed. Harsha, being a Key Relationship Manager, had access to the policyholders’ data and identified the loopholes in the online policy surrender system and banking system. With the help of his associates, he created fake PAN cards and driving licenses to open bank accounts in different banks using the policyholders’ names.
Then, he updated the email and contact details of the policyholder with his fake email id and sent the policy surrender request to the insurance company. He stole the login credentials of some of his colleagues by shoulder surfing and updated the customer’s profiles from their logins. The insurance company, without further verification, processed the online request that ostensibly came from the policyholder’s registered email id and transferred the amount. The fraudsters used the surrendered amount to purchase gold coins and biscuits worth 56 lakhs and other luxury items. The police seized 60 lakhs worth of crime property and sent the accused for judicial remand and taken police custody.
Under the direct supervision and leadership of Mr. D.S. Chauhan, IPS, Commissioner of Police, Rachakonda, under the guidance of Mrs. Dr.B.Anuradha, IPS, DCP, Cyber Crimes and Mr. G.Venkatesham, ACP, Cyber Crime Police Station, Mr.J.Narender Goud, Inspector and Mr.Parameshwar, Sub- Inspector and their team identified, arrested the accused persons and detected the case.
Our Citizen Reporter
Bharat Reddy
Telangana
