The Bermuda Police Service advised the public to remain vigilant after several reports of a banking scam that has resulted in victims being duped out of millions of dollars.

A spokesman said that the “sophisticated” scam involves residents receiving automated phone messages that claim to be from a bank relationship manager who alerts the recipient to a suspect transaction.

He explained that the recorded message falsely advises that a $1,000 debit has been processed on the recipient’s card account and instructs them to press “1” for yes or “2” for no, to indicate whether the transaction was authorised.

The spokesman said: “Individuals who press ‘2’ are then transferred to a fraudster posing as a banking representative, who attempts to elicit sensitive personal and financial information.

“Residents are reminded that legitimate financial institutions will not ask for full passwords, PINs [personal identification numbers] or request remote access to personal devices.

“Anyone who believes they may have shared sensitive information or granted access to their accounts should immediately contact their bank and report the matter to police.

“The BPS continues to work closely with all banks to monitor the situation and investigate this latest scam.

“Stay alert. Stay informed. Protect your information.”