Mumbai: The Cyber Crime Police have issued fresh advisories cautioning citizens against an alarming rise in online financial frauds, particularly insurance policy scams and call merging scams, which have recently led to significant monetary losses across the country.
Fraudsters Impersonating Insurance Officials
According to the advisory, scammers are posing as representatives of LIC, SBI Life, IRDAI, and other insurance firms. They contact citizens claiming that a bonus, refund, or maturity benefit is pending and urge them to make a small payment via UPI, internet banking, or auto-debit mandate to release the funds.
The fraudsters deploy emotional and psychological tactics such as:
“Your bonus expires today” (emotional pressure),
“Non-payment will cancel your policy” (false authority), and
“Form 60 clearance pending” (technical manipulation).
They often send UPI links, QR codes, or mandate requests, and may even trick victims into installing remote access apps or sharing OTPs, the advisory added.
Police Urge Verification and Vigilance
"Always verify the caller’s identity using official helpline numbers. Never share OTPs or install apps on someone’s request. Do not click on UPI links or scan QR codes sent via WhatsApp or SMS. Check agent credentials on IRDAI’s website. Report frauds on www.cybercrime.gov.in or call 1930," the advisory stated.
Citizens have also been urged to block and report unknown numbers immediately to prevent further attempts.
Call Merging Scam: A New Digital Trap
The police further highlighted a new scam known as the call merging fraud, where cybercriminals exploit a smartphone’s call-merge feature to intercept banking OTPs.
“The victim receives a call from an unknown number. The caller builds trust and requests to merge another call — which is actually an OTP verification call. The scammer silently listens, captures the OTP, and completes a fraudulent transaction. Criminals already possess victims’ banking details obtained through data leaks, phishing websites, malicious apps, and impersonation calls,” the alert stated.
Simple Steps to Stay Safe
Authorities have advised citizens to:
Never merge calls from unknown numbers.
Verify caller identity through official sources.
Use only trusted mobile apps and deny unnecessary permissions.
Avoid clicking suspicious links.
Never share OTP, PIN, or CVV with anyone.
Contact the bank’s official customer care for any clarification.
“Banks never ask for OTP or PIN over the phone. Any request to merge calls is a scam,” the alert reiterated.
