Insurance Fraud: Online fraud has become very common nowadays. A shocking incident happened with a retired teacher from Indore. Scammers pretended to be SBI Life Insurance officials and defrauded the woman of Rs 96 lakh. The scammers carried out this fraud so cleanly that the woman did not even know about it for two years. Yes, this scam lasted for two years from 2023 to January 2025. Let us tell you how this scam happened and how to avoid it.  

How this scam started 
The woman had earlier bought two insurance policies from SBI Life Insurance. She received a call from a person named Rajeev Sharma, who introduced himself as an officer of the company. He told her that if she pays the premium, she can get some money. Believing the call to be genuine, the woman paid Rs 1 lakh as processing fee. 

The scam lasted for two years. 
The scammers continued to deceive the woman and convinced her to make further payments. This scam lasted for about two years. According to a TOI report, the woman made 34 transactions and transferred Rs 96 lakh to the scammers. Even after transferring so much money, the woman did not realize that she was being scammed. The woman came to know that she had been scammed only when the scammers stopped talking to her. 

How to avoid such scams
Verify the identity of the caller - Always verify the identity of anyone claiming to be from a bank or other financial institution. 
Don't make hasty decisions - Scammers often pressure victims to make quick decisions. Take your time to think and consult someone you trust before making any decision. 
Never share sensitive information - Avoid sharing bank details, passwords or OTPs over the phone or online.
Report suspicious activity - If you suspect fraud, immediately report it to authorities and cyber crime helplines.