Executive of insurance company arrested for Rs. 21 lakh fraud

An executive from an insurance company has been apprehended by the detective department. The company is one of the largest in India. Its policy holders had their registered phone numbers altered, and the executive is accused of syphoning off Rs 21.5 lakh in three installments through the premature cancellation of policies.

DC (cyber) Atul Viswanathan claims that accused Dinesh Prasad (37), of Nilachal Abasan at Hatiara Bypass under Eco Park PS, utilised his technological know-how to exploit his online access to close policies before their terms were about to expire and change policyholders' phone numbers.

According to Atul, he also moved a portion of the funds to his account. The police have filed a report under various provisions pertaining to fraud, deception, and criminal conspiracy.