VICTORIA -- A Victoria man has lost thousands of dollars after falling prey to a bank phone scam last week.

According to VicPD, the man reported the scam on Jan. 13, saying that two people had called him, a man and a woman, and claimed that they were members of his bank's "fraud sting team".

The impersonators told the victim that his accounts had been compromised and that he would be able to help the bank catch the people who accessed his banking information by participating in an "undercover operation" with them.

The victim then followed the scammers' instructions and purchased a significant number of $100 gift cards from different stores.

To avoid suspicion, the callers told the man that he could later be reimbursed for the gift cards by speaking with his bank's main branch on the island.

He then gave the gift card information and PIN numbers to the scammers over the phone. 

In total, the man lost $6,000.

Victoria Police are now reminding the public to be cautious with their personal information, and to never provide financial information or money to anyone over the phone. 

If you feel like you are being targeted by a scammer, VicPD recommends that you report the fraud attempt to the Canadian Anti-fraud Centre at 1-888-495-8501 or through their website online here

If you have already unknowingly engaged in a scam, police ask that you make sure all financial transactions are stopped, and that you contact VicPD's non-emergency line at 250-995-7654 to report the incident.