Fredericton residents are being warned of a new scam where a man is posing as a local bank investigator.

The Fredericton Police say a man recently contacted an elderly woman and advised her that employees at a local bank were taking money and he was attempting to determine who they were.

The police say the man convinced the woman to take out “a significant amount of cash” from her bank account and meet him in a local parking lot.

The man told the woman that he would fingerprint the money and put it back in her account the following day.

The police said people should not offer personal information or cash to anyone unless they are “100 per cent confident of the source.”