'Scam in name of FedEx, Blue Dart’: Zerodha's Nithin Kamath warns after colleague loses money

In a Twitter thread, Nithin Kamath shared how a colleague of his had lost money after falling for a scam.

Zerodha CEO Nithin Kamath said that there was a new "scam" on the horizon courtesy different courier companies and shared an incident that had occurred with a colleague.

Writing in a Twitter thread, Kamath narrated the incident which involved a person, who claimed to be a FedEx official, informing the colleague that police had confiscated a parcel since it contained drugs and later had to transfer money based on the directions provided to him.

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

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

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— Nithin Kamath (@Nithin0dha) June 23, 2023

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 3/4 — Nithin Kamath (@Nithin0dha) June 23, 2023

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. 4/4

— Nithin Kamath (@Nithin0dha) June 23, 2023

The tweet generated numerous responses, many of whom stated that such incidents had occurred in the past but from different platforms.

"It used to be parcels from Amazon and Flipkart. Looks like no courier companies are spared now. This I believe is in connivance with company employees," one user wrote.

"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," another user wrote.

Also read: Nithin Kamath reveals key reason for Zerodha's success: 'We were able to grow thanks to...'