Police have arrested a man in Auckland who allegedly targeted “vulnerable elderly victims” with a banking scam, taking more than $200,000.

Detective Senior Sergeant Ryan Bunting said a 20-year-old man was arrested as the Waitematā CIB’s Financial Crime Team executed a search warrant at a New Lynn address following a month-long investigation.

“The arrest followed a short investigation into a scam targeting elderly victims, which involved fraudulent emails purporting to be from the victim’s bank requiring the victim to contact the bank via phone.

“The emails included a fictitious phone number connected to the scam.”

Three victims have been identified so far and have lost in excess of $200,000, Bunting said.

“As part of Fraud Awareness Week, this is a timely reminder for the community to be vigilant when it comes to emails and banking.

“We encourage everyone to scrutinise emails to confirm the sender and to contact your bank on a verified phone number or go into a branch,” he said.

“Never give your passwords or PIN numbers to anyone, banks will not ask for them over the phone or email and be sure you share these messages with elderly family and friends who are vulnerable to fraud.”

Bunting said anyone who suspected they may have been the victim of fraud should act quickly.

“It’s important to contact your bank first, then police — as soon as you realise you’ve been the victim of fraud — to give us the best chance of catching the offender and helping you recover your losses.”

A 20-year-old man was due to appear in Waitākere District Court today. He was charged with multiple counts of dishonestly obtaining and using documents as well as failing to carry out obligations in relation to a computer search.

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