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Officers have confirmed that ‘cold callers’ by individuals pretending to be from various banks have been scamming elderly people in Edinburgh.

Victims were told that there were issues with their investments and security concerns have been raised.

They are then instructed to set up a new bank account to amalgamate their funds and move their money into this new account.

There are also occasions when the fraudster will make attempts to download software onto the victims electronic device to control their money.

The funds are then transferred into cryptocurrency.

The number of high value frauds has resulted in the police releasing advice to help people be more vigilant.

In a post on social media, they wrote: “The public should remember these 4 key points:

"Banks do not cold call customers with such instructions.

"The public should fully safeguard their savings from criminals.

"Do not act on instructions provided by unknown callers.

"Do not give any personal information to callers which would enable them to access your finances.

"If in any doubt about the legitimacy of callers, make direct contact with your bank branch, your bank customer services or your investment company.”

Edinburgh crime news: Police issue advice after a number of high value frauds carried out in the Capital targeting elderly victims