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Zerodha CEO Nithin Kamath cautions about online frauds in India in the name of FedEx, Blue Dart, other courier companies
Zerodha CEO Nithin Kamath warns about new online frauds in India where fraudsters use the brand value of courier companies like FedEx, Blue Dart to scam victims
Online frauds in India: Zerodha CEO Nithin Kamath has cautioned about some new types of online frauds in India where the fraudsters are using the brand value of a courier companies of well repute like FedEx, Blue Dart, etc. Detailing about this new type of online fraud in India, Zerodha co-founder said that fraudsters call the victim posing themselves as courier company employee saying that a parcel has been confiscated by police because drugs were found in it. Once the victim gets frightened, fraudsters share bank details and ask for money transfer to release the parcel.
Zerodha CEO and Co-founder informed about such online frauds in India from his official twitter handle citing, "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."
See Nithin Kamath's tweet below:
Nithin Kamath went on to add, "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."
"Since the fake police had his AADHAR number, this made the entire ordeal more convincing. This person panicked & transferred the money immediately. If this can happen to a person working in a company that constantly sensitizes everyone to cyber fraud, it can happen to anyone," Kamath said in another tweet.
On how to handle such calls, Nithin Kamath said, "In a situation like this, the best thing is to say, I will get my lawyer to speak to you; it doesn't matter even if you don't have a lawyer. Most fraudsters prey on people who panic and react instinctively. Slowing down before reacting is the key."
Nodding to Zerodha CEO Nithin Kamath's new online fraud in India, a twitter user posing as Anjali Live Trading replied, "Yes… Bengaluru Techie lost almost 2L..."
"This type of scam is going on since months. One of my friends got such call around four months ago and the another friend got the same kind of call two months ago. Everyone needs to be very careful because scamsters build up new stories every time," said another twitter user Chander Bhatia.
Several other twitter users replied to Nithin Kamath's tweet sharing their ordeal in regard to such new type of online frauds in India.
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Business NewsMoneyPersonal FinanceZerodha CEO Nithin Kamath cautions about online frauds in India in the name of FedEx, Blue Dart, other courier companies
First Published:24 Jun 2023, 09:13 AM IST
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