Vehicle Insurance Scam: Almost everyone gets their car insured. But now you will need to read the insurance papers carefully, because Delhi Police has exposed a big online vehicle insurance scam in which more than 80 thousand fake insurance policies were sold.
Insurance Policy Scam: Be it a car, bike or scooter, people like to get their vehicles insured so that they can get compensation in case of an accident or theft. This is a good thing and people should do this, but it is even better that when you get your vehicle insured, read the documents carefully. It is usually seen that most people do not read the papers. Doing this can prove to be harmful for you.
Now you will need to pay attention, because an online scam has come to light that has shocked everyone. Delhi Police has exposed a big online vehicle insurance scam. More than 80 thousand fake insurance policies were sold in this scam. Let us tell you how this scam happened.
Owners charged more money
According to the Times of India report, the Crime Branch said that scammers running the insurance portal charged more money from two-wheeler owners in the name of three-wheelers and four-wheelers. The Motor Accident Claims Tribunal (MACT) found data discrepancies during its internal audit, after which they started sending notices to the insurance company.
How did this insurance policy scam happen?
At present, the Crime Branch is investigating this scam, but it is understood that the scammers had hacked the insurance website. They manipulated the entire portal and its menu options and increased the premiums of the policies. MACT revealed that at least 5 thousand vehicles in Delhi had received fake insurance, which has now been canceled and declared illegal.
Scammers sold fake insurance
A representative of the insurance company said that the scammers had completely changed the customer information, vehicle category and contact details. They started collecting vehicle policy details from across the country, manipulated the information and then started selling fake insurance on the websites of genuine companies. The scammers changed the cost of the insurance premium and the category of the vehicle. They were selling three-wheeler and four-wheeler policies to two-wheeler (motorcycle or scooter) owners.
How was the scam detected?
The scam came to light when the insurance company conducted its internal audit. In the audit, the company found that the data was not matching, especially in the case of third-party claims. These claims were filed in MACT courts across the country. The audit revealed that the scammers had created several fake email IDs, phone numbers and addresses to issue policies. In reality, there were only 14 genuine insurance plans whose contact details were correct and the rest were fake. The insurance company said that 80,014 fake policies were issued from 2022 to 2023.
Investigation underway
The company representative said that the internal audit also revealed that 74% of the policies were purchased online, using UPI, online banking and credit cards. Currently, a case has been registered in this matter and the Crime Branch of Delhi Police is investigating this scam.
