Zerodha's Nithin Kamath warns of FedEx and Blue Dart scam

Zerodha's Nithin Kamath has raised concern over ‘New Scam using FedEx and Blue Dart’ following loss by colleague.

Zerodha's Nithin Kamath raises concerns over new scam involving FedEx and Blue Dart after colleague falls victim. (Hindustan Times)

Nithin Kamath, the co-founder of Zerodha, a prominent retail brokerage firm, has issued a warning to the public regarding a "new scam involving FedEx, Blue Dart, and other courier companies." He expressed concern over scammers who are posing as officials from the CBI and crime branch to deceive unsuspecting individuals with fabricated cases. Sharing the incident on Twitter, Kamath recounted an encounter involving a person claiming to be a FedEx representative.

Kamath tweeted, "There's a new scam in the name of FedEx, Blue Dart, and other courier companies that you need to be aware of. A colleague received a call from an individual posing as a FedEx representative, stating that a package had been confiscated by the police due to the discovery of drugs."

According to Kamath, his colleague received an "official" notice from the fraudsters, who went to great lengths to deceive by even making a video call impersonating a police officer. The scammers also provided bank account details, urging the victim to transfer funds to secure the release of the alleged package.

There's a new scam in the name of FedEx, Blue Dart, and other courier companies that you need to be aware of 👇

A colleague got a call from a person claiming to be from FedEx saying that a parcel had been confiscated by the police because drugs were found in it. 1/4

— Nithin Kamath (@Nithin0dha) June 23, 2023

 

"The fact that the fake police had access to his AADHAR number made the situation even more convincing. In a state of panic, the victim immediately transferred the money. If this can happen to someone working in a company that continuously educates its employees about cyber fraud, it can happen to anyone," Kamath further added.

In response to such situations, Nithin Kamath advised individuals to calmly state, "I will have my lawyer contact you." He emphasised the importance of avoiding panic and impulsive reactions, as most fraudsters target individuals who respond hastily. Many Twitter users expressed gratitude to Kamath for shedding light on these scams and shared their own encounters with similar incidents.

"It used to be parcels from Amazon and Flipkart. Now it seems that no courier companies are spared. I believe there might be collusion with employees of these companies," one user wrote. Another user stated,

Since he was expecting a courier from an e-commerce platform, he panicked. He then got a video call from someone claiming to be the police and issued this official-looking letter. They shared the bank details to transfer funds to release the package. 2/4 pic.twitter.com/KoiC6hDL19

— Nithin Kamath (@Nithin0dha) June 23, 2023

 

"This type of scam has been ongoing for months. One of my friends received such a call around four months ago, and another friend encountered the same scam two months ago. Everyone needs to exercise extreme caution, as fraudsters come up with new stories every time."