The culprits were identified as Ram Prakash Sharma and Prashant Sharma, from Hathras district.
The police recovered two laptops, three mobile phones, 15 keypad mobile phones, Rs 10.57 lakhs, electronic gadgets and other documents.
The two confessed that they posed as officers of insurance companies in which the customers had their policies.
They said they ran a call centre in Delhi from where they called customers whose policies had got prematurely terminated.
They promised customers to get the maturity amount of their policies and charged money in the name of facilitating the maturity money.
The police said that the miscreants had a dossier of customers who could not run their policies and the insurance policy got terminated.
Through the call centres, the miscreants contacted targets.
They then promised to facilitate the maturity amount despite termination of the policy and charged the money from them.