Mumbai: In a recent incident of cyber fraud aimed at senior citizens, a 67-year-old man from South Mumbai lost ₹1.01 crore to scammers impersonating representatives of Max Life Insurance. The South Cyber Cell has filed a First Information Report (FIR) against unidentified individuals and has initiated an investigation.
As reported by the South Cyber Cell, the victim received numerous calls from various numbers between January 22, 2025, and March 7, 2025. The fraudsters, posing as agents from Max Life Insurance, informed the elderly man that his life insurance policy was nearing expiration due to unpaid premiums.
One scammer, who introduced himself as Vikram Jain, persuaded the victim to take advantage of a special offer by paying the premium immediately. He assured the man that his policy would be enhanced with additional benefits.
Believing the fraudulent claims, the senior citizen transferred a total of ₹1,01,08,758 to the scammers. When he discovered that his policy had not been updated, he realized he had been scammed and reported the incident to the South Cyber Cell.
Following the complaint, the South Cyber Cell has opened a case under various sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology (IT) Act.
Authorities are currently working to trace the fraudulent callers and investigate the bank accounts involved in the transaction. The cybercrime unit is also monitoring the phone numbers and IP addresses used by the scammers.
The South Cyber Cell has advised the public to exercise caution when receiving unsolicited calls related to insurance and to verify the legitimacy of such offers before proceeding with any financial transactions.
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