Con artists posed as bank fraud investigators to steal £90,000 from one victim.

The crooks phoned house-holders alerting them about activity on their bank accounts before urging them to transfer their balance into a new account.

The thieves claimed to be from the main high street banks in order to fleece their targets.

Police said one victim, from Lanarkshire, had almost £90,000 - their entire lives' savings -

stolen.

The con involves convincing customers their bank account has been "compromised".

Victims receive a call at home, from the fraudster, who is posing as a bank or building society official and who claims they need to act straightaway.

While the person is panic-stricken into believing a crook has targeted their account, they are lured into putting their money into a new "secure" account.

Victims are conned into transferring money from their account into the conman's account, which is then shut down.

A Police Scotland spokesman said: "Victims are receiving a call from someone identifying themselves a member of staff from the bank, telling them that their account has been compromised and that they have to transfer funds into a different account.

"The second account is bogus and the victim loses their life savings. The scam is costing victims thousands of pounds, with one victim losing just under £90,000."

Police also stressed that genuine bank staff would never ask for details over the phone.

Last month, the Evening Times revealed criminal gangs have masterminded a new "no hang up" scam.

Police issued a warning after a 75-year-old woman was conned out of more than £10,000. She was told her bank suspected her account was compromised.

The worried victim was then asked to call the bank back, using the phone number on the back of her debit card. She assumed she was speaking to bank staff - but the conmen had kept the line open and were able to steal the cash.

Anyone with any concerns is asked to contact Police Scotland on 101.