North Yorkshire Police said fraudsters have devised a different approach to the scam after previous warnings were issued by officers.
The victim receives a phone call claiming to be from their bank’s ‘fraud team’ or a police officer.
The fraudster claims the victim needs to open a new bank account or transfer their money “due to fraudulent activity from branch staff”.
The victim is then told to go to their bank and withdraw substantial amounts of money in cash before sending it first class recorded delivery to an address for ‘safekeeping’.
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They are told to lie to bank staff about what the money is for, such as building work or to purchase a new car.
North Yorkshire Police said they have been notified of two instances of the fraud where scammers have convinced victims to send money before they have realised some is not right and reported the crime.
The police or your bank will never ask you to send, transfer or withdraw money for safekeeping.
If you think you have been a victim of fraud, notify your bank immediately and call North Yorkshire Police on 101.