£750,000 lost in phone bank scam in Tayside
Almost £750,000 has been taken from residents in Tayside as part of a telephone banking scam, police have revealed.
Members of the public were duped by criminals claiming to be members of a bank's fraud team.
Fraudsters claimed that accounts had been compromised and encourage people to move their money to a fake account.
Police have urged people to remain vigilant and hang up immediately if they were suspicious of a call.
People who fell victim to the fraud once were repeatedly targeted by the scammers, who remained in contact until their victim's bank account was empty.
The issue has prompted banks to caution that they would never contact a customer directly and urge them to move their money to a different account.
Det Insp Iain McPhail, from the economic crime and financial investigation unit said: "I would like to remind the public, if fraud has been committed on your account, banks will never contact you direct and ask you to transfer money to another account.
"If they do, hang up immediately.
"If you are suspicious contact the bank on the correct number you have for them and do it on a telephone separate to the one that the initial call was received.
"The bank will never ask about personal information and assets held at other financial organisations."