Police said they worked to raise awareness of the issue last week, speaking to almost 1,000 taxi drivers, as well as jewellers and couriers, to help them spot the signs and report it.
Most of the victims are elderly, police said, but they added people from 30 to 40 years old were victims between January and March.
Police said the fraudsters may also encourage victims to withdraw large amounts of cash at their bank.
Ms Bounds said: “The criminals are really sophisticated and with changes in technology we know they are becoming more and more convincing.
“It’s not about someone being fooling or falling for a fraud, it’s that they are so convincing and they use psychological tactics.”
She explained fraudsters are using phone numbers which appear as the same as a victim’s bank, and urged people to not use caller ID to verify who is calling.
She said fraud has a “massive impact” on victims.
“A lot of people previously thought it was a financial impact but the victims I see every single day, the impact is so much wider than that.
“It takes confidence away from people and makes them far more untrusting and nervous in all kinds of interactions in their life.”
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