Mumbai Police have arrested a former employee of a private insurance company and an associate from Panipat, Haryana, for allegedly defrauding the organisation of ₹24 lakh through fraudulent online loans obtained using customer data, according to a police investigation.
The accused, identified as Imran Khan and an associate, allegedly accessed policyholders’ personal information, secured OTPs from customers’ phones, altered banking and contact details in company records, and obtained loans in the names of customers. Police said the loan proceeds were diverted to mule accounts.
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How the Fraud Came to Light
The alleged fraud surfaced in September after a policyholder from Gurugram informed the company that he had received SMS notifications regarding a loan application he had never submitted. During an internal investigation, the company’s fraud control team found that Khan and another employee, Anjali Rani, had visited the customer’s residence between July 26 and 28.
According to investigators, the two allegedly persuaded the customer to switch to another insurance policy and took possession of his phone under the pretext of completing formalities. The inquiry later revealed that a loan had been processed in the customer’s name without his knowledge and that the funds had not reached him.
Investigators Trace Multiple Fraudulent Loans
Police said the investigation uncovered 15 loans that had allegedly been sanctioned in the names of different customers. When the company sought explanations from Khan and Rani, both were reportedly found missing and their phones switched off.
Investigators alleged that the duo fraudulently obtained OTPs from customers, generated TPINs to modify registered mobile numbers and email addresses in the company’s system, and altered linked bank account details. As part of the verification process, the company reportedly transferred ₹1 to newly added accounts before disbursing loans. Police said transaction alerts were received by the accused because customer contact details had already been changed in the system.
Authorities further alleged that the accused convinced the company that the modified bank account details were genuine, resulting in loan amounts being credited to mule accounts.
Arrests Made, Probe Continues
Following a complaint, the West Cyber Police in Mumbai registered an FIR. While Anjali Rani remains at large, police tracked down Khan and another associate, Pulkit Sharma, who allegedly arranged mule accounts used in the operation.
Both arrested individuals were brought to Mumbai on transit remand. Police said they seized three mobile phones, six cheque books and two passbooks from the accused.
The investigation is being conducted under the supervision of senior officers of the West Cyber Police, and efforts are continuing to trace other individuals linked to the alleged fraud.
