Mumbai Cyber Fraud: 78-Year-Old Bandra Woman Duped Of ₹5.85 Crore In Fake HDFC Insurance Policy Scam

Mumbai: A 78-year-old woman from Bandra West has allegedly been cheated of ₹5.85 crore by cyber fraudsters who lured her with the promise of receiving nearly ₹4 crore from a purported HDFC Bank insurance policy. The accused allegedly posed as insurance company officials, sent her a fake identity card bearing the logo of the Insurance Regulatory and Development Authority of India (IRDAI), and repeatedly demanded money under various pretexts, including GST payments and charges for issuing a final order.

The West Cyber Police have registered a case against one unidentified suspects and several beneficiary bank account holders in connection with the fraud, which allegedly took place between December 14, 2023, and October 7, 2026.

According to the FIR, 78 year old women complainant, who has been residing with her husband at West Coast Apartments on St Joseph Road in Bandra West since 1993, she runs a tours and travels business.

Complainant stated that on December 14, 2023, she received a call from a person using mobile number 7303527361, who identified himself as Vipul Agarwal. The caller allegedly referred to an HDFC Bank policy bearing number 16054090 in her name and told her that the policy's maturity or penalty amount was ₹1,74,512. On March 5, 2024, another person, identifying himself as Santosh Mishra, contacted her from a different number and claimed that Agarwal had died and that he had taken over his responsibilities. Mishra allegedly told her that the policy amount was approximately ₹4 crore and that she would have to pay around ₹50 lakh to receive the money.

The accused also allegedly sent her an identity card bearing the IRDAI logo, a photograph and the employee ID ACT00010 through WhatsApp. On September 5, 2024, Mishra contacted her again using a new mobile number, claiming that his previous number had been discontinued. He allegedly introduced her to a woman named Meenakshi, who posed as an HDFC Bank employee and repeatedly demanded money under various pretexts, including GST payments and other charges, to release the purported policy amount.

Acting on their instructions, the complainant allegedly transferred a total of ₹5,85,74,004 through NEFT and RTGS transactions from her IndusInd Bank joint account to various bank accounts provided by the accused. A detailed statement containing the transactions has been submitted to the police as part of the FIR.

In June 2026, Mishra allegedly demanded an additional ₹73 lakh, claiming that the payment was necessary to obtain a final order for releasing the policy proceeds. When the woman expressed her inability to pay the amount, she allegedly received a call from a person identifying himself as Akash Mittal, who claimed to be an HDFC Bank employee and described Meenakshi as his junior. He allegedly persuaded her to arrange the money to complete the process.

The complainant stated that the accused continued to demand money under different pretexts. Suspecting foul play, she approached HDFC Bank to verify whether such a policy existed in her name. She was subsequently informed that no such policy existed and that she had been cheated. When she attempted to contact Mishra, his phone was switched off, following which she reported the fraud through the national cybercrime helpline 1930. She submitted five complaint acknowledgement numbers to the police, along with a copy of the identity card allegedly sent by the accused and authenticated copies of text messages received on her mobile phone.

The West Cyber Police have registered a case against the persons using mobile numbers 7303527361, 8130968431, 7309557215 and 7466936116, identified in the complaint as Vipul Agarwal, Santosh Mishra and Akash Mittal, respectively, along with the holders of the beneficiary bank accounts involved in the transactions. Further investigation is underway.

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