Insurance Renewal Scam Leads to ₹6.50 Lakh Cyber Fraud, Delhi Man Arrested

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Delhi resident Vikas Kumar detained in connection with a ₹6.50 lakh cyber fraud scheme impersonating an insurance policy renewal.

Insurance Renewal Call Leads to ₹6.50 Lakh Cyber Fraud

Ajmer Cybercrime Police in Rajasthan have detained an individual in Delhi linked to a ₹6.50 lakh cyber fraud scheme impersonating an insurance policy renewal. The accused, identified as Vikas Kumar, is alleged to have collaborated with multiple associates to defraud an Ajmer resident by leveraging the guise of an insurance-related transaction. The stolen funds were reportedly funneled through a bank account associated with a fictitious company.

Bank Account Linked to Fictitious Entity

During the investigation, authorities discovered that Vikas Kumar facilitated the opening of a bank account under the name IGMS Corporation, which was purportedly registered as a clothing business. According to the probe, an individual named Suryansh was compensated ₹500 daily for providing this account. Investigators are currently assessing the duration of the account’s usage, the volume of transactions processed, and the actual intent behind the company’s establishment.

Further scrutiny is underway to determine if additional financial channels were utilized in the alleged operation.

Suspect Retained Portion of Stolen Funds

Preliminary findings suggest that Vikas Kumar retained approximately 10% of the proceeds from the fraudulent insurance renewal scheme. The remaining funds were allegedly transferred to accounts linked to associates including Amrit and Asif. This financial distribution pattern has raised concerns about the involvement of an organized cyber fraud network.

Suspects Questioned in Ajmer

Vikas Kumar, Suryansh, Amrit, and Asif have been transported to Ajmer for interrogation. Investigators are examining the suspects’ roles in the alleged fraud, the mechanisms used to manipulate bank accounts, and the movement of illicit funds. Police are also investigating whether the group previously targeted other individuals by offering services related to insurance renewals or financial assistance.

Financial Trail Under Scrutiny

Investigators are focusing on the movement of funds to identify potential beneficiaries and assess the scale of the operation. The case involves tracing how the suspects allegedly contacted the victim, established credibility through the insurance renewal pretext, and utilized multiple accounts to transfer the stolen money. Authorities are also searching for additional individuals linked to the network.

Further developments will depend on the interrogation of suspects, analysis of bank records, and examination of digital evidence. Police anticipate that this investigation could reveal the extent of the alleged cyber fraud network and whether the accused were involved in similar activities elsewhere.