Life insurance fraud reaches 14.5 million USD

In Haryana, India, an insurance agent fools several life insurance companies. The total amount of the insurance fraud has reached 14.5 million USD.

The procedure includes people with throat cancer, doctors and police investigators

• First step: The insurance agent starts by selecting his targets from a list of terminally-ill patients. The names and addresses of people with severe cancer are collected after paying bribes to the medical secretary of the local hospital. The young, poorly educated and people in need, are the main targets.
• Second step: The agent and his accomplices contact the families of the patients and incite them to underwrite a life insurance policy for their loved one suffering from cancer. These latter also give permission to the fraudster to remove the body after the patient’s death. One in five families accepts the offer without realizing that they are taking part in a fraud.
• Third Step: The gang masks the death of the insured in a traffic accident by rolling on them. The accident is then attested by corrupt police officers. Subsequently, an autopsy report is issued by an accomplice at the hospital confirming the version of the accident.