In a major relief to an 85-year-old victim of the notorious FedEx parcel scam or ‘FedEx fraud’, a significant sum of Rs53 lakh was refunded to him on October 23, 2024, by an Axis Bank branch in Surat. This follows the elderly man’s ordeal, where he was duped out of a total of Rs2.88 crore after falling victim to a parcel scam.
The victim, identified as Davuluri Hanumantha Rao, a resident of Habsiguda, Hyderabad, had been lured into the scam by fraudsters posing as officials from a reputed international courier company. The scam, which is commonly referred to as the ‘FedEx fraud’, involves scammers impersonating courier service agents and convincing the victim to transfer large sums of money under the pretext of clearing charges related to a fake parcel delivery.
As a result of the scam, Rao had lost over Rs2.88 crore. However, after investigations and efforts by financial institutions, Rs53 lakh of the stolen amount has now been returned. The refund was processed by Axis Bank in Surat, marking the first installment of the money recovered.
In addition, the remaining Rs50 lakh of the defrauded funds, which had been held in fraudulent accounts, will soon be refunded to Rao through a State Bank of India (SBI) branch in Kerala.
The parcel scam is one of several ongoing fraud schemes targeting unsuspecting elderly individuals, and the authorities are continuing their efforts to track down the perpetrators behind this large-scale scam.
This refund marks a small but significant victory for the elderly victim, highlighting the importance of vigilance and the ongoing efforts of financial institutions in helping victims recover from such deceptive schemes.