Hyderabad Senior Scammed of Rs 1.7 Lakh by Fraudsters Posing as Loan Providers
A 62-year-old businessman from the city has fallen prey to a cyber scam, losing Rs 1.7 lakh to fraudsters who promised him a ‘zero-interest’ loan on a Rs 10 lakh insurance policy.
Hyderabad: A 62-year-old businessman from the city has fallen prey to a cyber scam, losing Rs 1.7 lakh to fraudsters who promised him a ‘zero-interest’ loan on a Rs 10 lakh insurance policy.
The victim received multiple calls between August 9 and November 3 from scammers claiming to represent a well-known finance company. They offered a loan with zero percent interest against an insurance policy. The fraudsters sent details via WhatsApp and asked the businessman to fill out an application form. They then instructed him to transfer Rs. 80,000 as part of the process.
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As the scam progressed, the perpetrators demanded an additional Rs. 56,050 for a health insurance policy to avail further loan subsidies. The victim complied with the request. However, the fraudsters later informed him that due to his age, a second 2-year health policy was required to proceed.
Despite making these extra payments, the promised loan never materialized, and the victim realized he had been scammed. He immediately approached the police, and a case has been registered for investigation.
Cybercrime officials are probing the matter, and they urge the public to be cautious of such fraudulent schemes.
