The complainant received calls from scammers between August 9 and November 3 offering a zero percent interest loan on an insurance policy worth Rs 10 lakh.

Hyderabad: A 62-year-old businessman from the city has become the latest target of cyber fraudsters, who duped him of Rs 1.7 lakh on the pretext of a ‘zero’ interest loan on an insurance policy .

The complainant received calls from scammers between August 9 and November 3 offering a zero percent interest loan on an insurance policy worth Rs 10 lakh.

According to cyber crime officials, fraudsters claiming to be representatives of a reputed financial company provided details through WhatsApp and asked the applicant to submit the application form. They instructed him to transfer Rs.80,000 as part of the process.

The fraudsters later demanded an additional amount of Rs 56,050 for a health insurance policy to secure additional loan subsidies, which the complainant paid. Another caller advised that due to his age he needed a second health policy for 2 years.

“The claimant made additional payments, but the promised loan was never approved. He realized that he was cheated and approached the police,” said a police official.

The case is under investigation.

(For a cyber crime complaint, call 1930 or visit cybercrime.gov.in.)