HYDERABAD: Cyber crime sleuths of Rachakonda police on Monday arrested 6 persons, including a relationship manager of a private insurance company, for allegedly diverting a Non Resident Indian (NRI)'s insurance policy money into a fake bank account.
Later, police found that the gang had duped several other policy holders and by using the ill-gotten money he had bought gold biscuits.
Rachakonda commissioner of police DS Chauhan during a press conference said that after the nabbing of relationship manager K Ranga Sai Harsha, graphics designer D Akshay Kumar, food delivery boy Mohammed Yaseen Ahmed, cab driver M Prasanth Sai, V Achyuth, A Prakash Reddy, police unravelled the fraud and seized property worth Rs 60 lakhs.
A Non Resident Indian (NRI) K Kishore recently went to the insurance company's office, to update his address against his Unit Linked Insurance Policy (ULIP). To his shock, the staff had informed him that Rs 76 lakhs against the said policy was already withdrawn on his request. The policy was closed before its maturity and the money was credited into K Kishore Kumar's bank account in South Indian Bank.
Kishore immediately lodged a complaint with the Cyber Crime police of Rachakonda. After collecting the details of the bank account holder K Kishore kumar in SIB, Cyber Crime inspector Narender Goud and his team of investigators collected the ID proofs which were submitted at the time of opening.
They found that someone had fraudulently opened a bank account using a forged PAN card, by using the victim's name and his original PAN number. From this bank account, the investigators found that using the money credited into the fake account, shopping was done at a jewellery shop in Mehdipatnam, where fraudsters bought Rs 56 lakhs worth gold.
"After going into the depth of the case, we found that someone sent an email to the insurance company, impersonating the victim requesting for closure of policy, before its scheduled maturity. Finally, we found that it was the relationship manager of the company Sai Harsha, who is behind the fraud," Chauhan told scribes.
Explaining about the modus operandi, Harsha being the insider of the company had access to the high value customers details. "He used to analyse the customers data and identify details of NRIs, senior citizens, customers who forgot that their policy was matured, policy holder who died but their nominee was unaware about the policy. By selecting a policyholder, the accused Harsha by impersonating the victim used to move a proposal to the company to update his email by sharing a new emailid, to be his registered emailid. Being the relationship manager, he himself used to get the communication and Harsha used to accept it,'' CP said.
Once this became the registered emailid, after some time Harsha used to send an email to the insurance company requesting to withdraw the policy money before its matured. In the same email, he used to share a concerned bank account number to which the money had to be credited.
Prior to that the Harsha will open the bank account in the name of concerned policy holders, by submitting fraudulent PAN card and driving license by replacing the photograph with the impersonating accused like Yaseen Ahmed, Prashanth. As per the requirement of Harsha, Akshay Kumar by using his software skills will create fabricated PAN cards, driving license and share it to Harsha.
From the accused, police seized 14 fake PAN cards, 1 fake Aadhar card, 1 fake voter ID, 10 fake driving licenses, 10 pass books, 376 grams of gold, an airgun, Rs 6 lakh cash and others. Till now police found that the accused had illegally diverted Rs 4 crores and committed 19 offences since 2019.
