Life insurance companies are incurring huge losses thanks to a group of scammers.
These individuals are fabricating documents and buying insurance online, and later cashing in policies by creating fake user profiles, medical records, and death certificates.
Private insurance companies have approached police after they found that several policies were enchased within two months of the new life insurance policy being taken out online.
According to police, cases of life insurance being claimed in the name of non-existing people were found were found in Delhi and NCR along with states like Uttarakhand, Gujarat and Bihar.
A team from the Uttar Pradesh Special Task Force (STF) is conducting raids to nab the gang, which is suspected to be working hand-in-glove with insurance companies’ employees, doctors of private hospitals, and municipal corporation employees.