An elderly Regina woman is the latest victim of a well-worn bank-inspector scam that police say has been making the rounds in Saskatchewan.

According to Regina police, the 81-year-old woman was targeted Tuesday.

The woman received a phone call from a man posing as a security person for a bank looking to enlist her services.

Police said the supposed inspector claimed he was investigating dishonest activities at the bank and asked the victim to withdraw a large sum of money from her account.

The woman complied and met with a man on a downtown Regina street. He took her cash with a promise to meet later on so the funds could be re-deposited. But that never happened.

Police were called on Wednesday.

The same scam was reported by Prince Albert police earlier in the week.

Police reminded people to be vigilant, adding that banks never call on clients to help out with security operations.

They noted the scam artists provided very convincing stories.

Also, because bank employees are aware of the scam and may ask a client questions about a large withdrawal of cash, the perpetrators of the scam often tell the mark to explain that the money is needed for a family emergency.