Mumbai: In yet another case of cyber fraud targeting senior citizens, a 67-year-old man in South Mumbai fell victim to a scam, losing ₹1.01 crore to fraudsters posing as Max Life Insurance representatives. The South Cyber Cell has registered an FIR against unknown individuals and launched an investigation.

According to the South Cyber Cell, between January 22, 2025, and March 7, 2025, the victim received multiple calls from different numbers. The fraudsters, impersonating Max Life Insurance agents, claimed that the senior citizen's life insurance policy was about to expire due to pending premiums.

A fraudster, identifying himself as Vikram Jain, convinced the elderly man that he could avail of a special offer by paying the premium immediately. The caller assured him that his policy would be updated with additional benefits.

Trusting the fraudulent offer, the senior citizen transferred a total of ₹1,01,08,758 to the scammers. However, when his policy was not updated, he realized that he had been deceived and approached the South Cyber Cell to lodge a complaint.

Based on the complaint, the South Cyber Cell has registered a case under Section 319(2), 318(4), 336(2), 336(3), and 61(2) of the Bharatiya Nyaya Sanhita (BNS), Sections 66(c) and 66(d) of the Information Technology (IT) Act.

Authorities are tracing the fraudulent callers and investigating the bank accounts where the money was transferred. The cybercrime unit is also tracking the phone numbers and IP addresses used by the fraudsters.

The South Cyber Cell has urged citizens to be cautious while dealing with unsolicited insurance-related calls and to verify the authenticity of such offers before making financial transactions.