Kathmandu. A major scam of fake car insurance has been exposed in neighboring India.
The incident was exposed after the Cyber Crime Police Station of India arrested four members of a gang that was involved in making fake car insurance policies. According to the police, in the initial investigation, this gang has issued 12,000 fake car insurance policies and embezzled Rs 180 million (288 million Nepali rupees) from the insurance company.
In this regard, Sanjay Thakur, Vice President of ICICI Lombard Company, filed a complaint with the Cyber Crime Police Station two days ago. According to the police, fake car insurance policies of Cholamandalam Company have also been issued. The police said that they are contacting the company and collecting information.
According to Indian Police ADCP Crime Piyush Kumar Singh, those arrested are Vikas Kashyap of Richpalpuri, Akash Sisodia of Parpa Hapur, Milak, Chakkar, Yakub and Arif of Moradabad. Akash Sisodia’s brother Rohit is absconding.
During police interrogation, it was revealed that Akash Sisodia helped Vikas Kashyap become an agent of ICICI Lombard General Insurance Company. Akash is the mastermind of this criminal act.
Yakub and Arif used to contact the vehicle owner who insured Akash from Moradabad. During the investigation, it was revealed that this gang used to falsely promise to provide third-party insurance of 10 to 20 percent of the four-wheeler.
After that, the vehicle category in the company’s app was changed from four-wheeler to two-wheeler. Due to which the company had to pay only about 1 to 1.5 thousand rupees for two-wheeler instead of paying a premium of 10 to 15 thousand rupees. The vehicle owner also used to get a discount. When the police checked the vehicle insurance, it was found that only the vehicle was insured. This is how the accused’s fraud was going on.
ICICI Lombard Company had received information from the Motor Vehicle Accident Claims Tribunal regarding a truck accident. When the company checked its records, it was found that it had insured two-wheelers. After the company investigated, it was found that the fraud had taken place. After that, when all the third-party insurance policies taken out in the past two years were investigated, about 12,000 insurance policies were found to be fake.
The police said that the arrested persons had taken out fake vehicle insurance worth more than Rs 1 lakh based on interrogation. Since Vikas Kashyap is also an agency of Cholamandalam Insurance Company, the Cholamandalam Company has also been contacted. –Agency
