Police have issued a warning to the public following a vishing — voice phishing — scam that resulted in a man losing £29,000.
The incident involved scammers cold-calling a 50-year-old man from the Cupar area last Thursday.
They pretended to be from his bank using software that made it appear as if they were calling from an official number and claimed his account had been compromised.
The man was then convinced to transfer his money into another account for safekeeping, which resulted in the loss.
Officers have issued a warning to the public about the vishing scam and are investigating it through Operation Principle, Fife Division’s response to acquisitive crime.
Detective Chief Inspector Scott Cunningham, the lead for Operation Principle, said: “These scammers claim to be from legitimate organisations and try to frighten or pressure people into revealing personal details or banking information.
“Never give such information or transfer money to an unexpected caller and, although anyone can fall victim to this, please warn elderly or vulnerable friends or relatives in particular to be wary this type of scam.
“If you receive such a call, advise the caller that you will contact the company on your own terms and hang up immediately.
“Find the organisation’s phone number from its official website or a previous correspondence and call them back yourself, always on a different phone, to verify it.”