Fund Distribution by IRDAI:

Policy holders are always at the receiving end as fraudsters scam both day in and day out. Fraudsters had duped the customers by assuring them bonus that Irdai was purportedly distributing out of funds invested by insurers. Dubious callers lured policyholders into purchasing insurance policies that would yield this supposed bonus after a few months. The bonus of course never came through.

They also made attempts to entice customers into buying new insurance cover in order to avail of maturity proceeds or bonus under their existing policy, again citing non-existent Irdai rules

You Have Won A $1 Million Lottery:

Perhaps this is the most famous hoax that everyone believes as soon as they see, but bang their heads against the wall after losing their money as they would have given its as an advance pay for the whole sum of assured money to reach them. This is how the scam works: tricksters, posing as officials of the RBI, other banks or regulators, send 'intimations' of lucrative lottery or prize winnings to randomly chosen individuals.

To convince the recipients of the authenticity of their claims, they send such messages through fake letters, emails and SMSes that carry forged signatures of senior executives of these organizations.

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