An Ahmedabad police inspector lost around ₹5.4 lakh after fraudsters posing as insurance company officials allegedly convinced her that she was entitled to a much larger refund and maturity payout, according to a report by The Times of India. The scammers used details of her existing policies to make their claims appear credible before repeatedly asking her to transfer money.
The 45-year-old inspector, posted with the Civil Defence Home Guards, approached Gujarat University police after she realised that the demands for additional payments were part of a fraud, the report said.
The incident began on 11 August when the woman received a call from an unknown number. The caller claimed to be from the Delhi headquarters of an insurance company and referred to details of two policies held by her, according to The Times of India.
The caller allegedly told her that an agent had filed a claim for 80% of the policy amount. He then offered to register a complaint on her behalf and sent her an acknowledgement number.
A second caller subsequently introduced himself as a manager. He allegedly told the inspector that she had paid ₹10.8 lakh in premiums and had accumulated ₹8.7 lakh in interest. She was promised ₹19.5 lakh if the policies were closed.
The catch was an upfront processing payment of ₹99,227. She transferred the amount in instalments through a QR code and bank transfers, the report said.
The fraudsters later demanded another ₹4.4 lakh, allegedly towards GST, promising that the amount would be refunded. The inspector transferred ₹50,000 through a QR code and ₹3.9 lakh through two bank transactions on 19 and 20 August, according to the report.
On 24 August, another caller allegedly told her that the policy value had increased to ₹24.9 lakh. She was then asked to keep ₹5.1 lakh in an insurance e-account before the payout could be released.
That additional demand raised suspicion. She contacted the cybercrime helpline on 25 August and later filed a police complaint.
The case highlights a key warning sign in insurance-related fraud: a caller knowing your policy details does not establish that the caller is genuine. Fraudsters can use personal and policy information to create credibility before asking victims to make payments.
Policyholders should independently contact their insurer using the customer-care number or other contact details available on the company's official website or policy documents. They should be particularly cautious if someone asks them to pay “processing charges”, GST, verification fees or other amounts before releasing an insurance payout.
Requests to scan a QR code or transfer money to an unfamiliar bank account should also be treated as red flags.
Anyone who suspects an online financial fraud should immediately contact their bank and report the incident through the national cybercrime helpline at 1930.
Kirti Jha is a Senior Content Producer at Mint, where she writes on mutual funds, taxation, personal finance and macroeconomic developments. Her reporting focuses on helping readers understand complex financial developments through data-driven, research-backed stories that explain how policy changes, market trends and regulatory decisions affect investors and households. <br><br> Before joining Mint, Kirti worked at ET Money, where she specialised in mutual fund research and investment analysis. She tracked portfolio disclosures, fund manager strategies, sectoral allocation shifts and investment trends, distilling large datasets into investor-focused insights. Her work combined quantitative analysis with consumer-centric storytelling, enabling readers to better understand fund positioning, portfolio changes and long-term investment opportunities.<br><br> Kirti holds a Bachelor's degree in Economics from Indraprastha College for Women, University of Delhi, and a Master's in Finance from the Jindal School of Banking & Finance at O.P. Jindal Global University. Her academic training emphasised analytical thinking, quantitative research and financial decision-making, providing a strong foundation in understanding capital markets, financial systems and economic policy. With a combined experience in investment research and financial journalism, she is committed to producing accurate, accessible and insightful journalism that empowers readers to make well-informed financial decisions.
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