In a shocking case of cyber fraud, a retired teacher from Indore was swindled out of Rs 96 lakh by scammers posing as officials from SBI Life Insurance. The elaborate scheme, which unfolded over two years, involved fraudsters convincing the victim to transfer money under the pretense of policy-related procedures and future financial benefits.
According to reports, the victim, who holds an account with SBI Bank and had previously purchased two genuine insurance policies from SBI Life Insurance, first received a call in 2023 from a man identifying himself as Rajiv Sharma. Claiming to be an SBI official, the caller assured her of assistance with her insurance policies.
Over the next two years, the scammers systematically deceived her, persuading her to make multiple payments for alleged policy formalities, taxes, and promised returns. Believing she was dealing with legitimate representatives, the victim conducted 34 online transactions, transferring a total of Rs 96 lakh.
The fraud came to light in January 2025 when the scammers suddenly ceased all communication. Realizing she had been duped, the victim promptly approached the Indore Crime Branch and lodged a complaint with the National Cyber Crime Helpline (1930).
Authorities have since frozen the bank accounts associated with the fraudulent transactions and initiated an in-depth investigation to track down the perpetrators.
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