Noida Police Busts Fake Insurance Renewal Scam; Woman Among 4 Arrested

The Noida Police have busted a major scam of fake insurance policy renewals and discounts with the arrest of four members, including a woman. The gang targeted policyholders by promising renewals with heavy discounts and luring them with attractive schemes.

Modus Operandi of the Scam

The fraudsters collected information relating to PNB MetLife insurance policies and approached insured persons, introducing themselves as agents. They convinced a client to remit payments for renewal and discount purposes of the policy. If anyone refused, they threatened a recovery action.

After one or two months, these victims contacted the insurance firm to find out that their renewals were not done only to realize that they are victims of fraud.

Cross-state operations

The gang mainly focused on Maharashtrian, Gujrati, and Tamilians. They managed fake call centers by letting spaces rent out in different areas to be undetected. The police took away a number of mobile phones, laptops, and main documents during the raid.

Gang Expertise

They explained during interrogation that they were previously working for insurance companies and banks. This gave them an extensive knowledge of policies and procedures. They pretended to be employees of the Insurance Ombudsman or authorized call centers to gain the victim's trust.