TOKYO (TR) – Sony Life Insurance introduced that two former gross sales representatives swindled prospects out of money by convincing them to cancel their insurance coverage insurance policies to fund a pretend funding scheme, studies TV Asahi (Aug. 4).
According to the corporate, the ex-employees lured shoppers with guarantees of unique entry to unlisted shares. The rogue reps allegedly instructed the victims to cancel their current life insurance coverage insurance policies to unlock money, after which pocketed the refunded premiums.
The newly uncovered fraud includes two circumstances totaling 1.5 million yen. However, the corporate warns the monetary harm is prone to develop because the investigation continues.
The revelation follows on the heels of a separate, huge scandal on the insurer. Sony Life beforehand disclosed that 4 different gross sales representatives engaged in shady monetary transactions totaling roughly 120 million yen with 14 prospects, additionally utilizing bogus funding pitches.
This newest incident marks the primary time fraud immediately linked to the core insurance coverage operations — particularly the cancellation of insurance policies — has been uncovered on the agency.
Fearing the rip-off might be a lot bigger, Sony Life has launched an unprecedented inner probe, reaching out to verify the security of accounts for all 2.8 million of its policyholders.
The firm acknowledged it went public with the data to alert prospects of the continuing menace, and expects to announce an replace on the huge investigation subsequent month.