Police are warning residents -- especially those between the ages of 80 and 90 -- to watch out for a con man who has been convincing elderly bank customers to withdraw thousands of dollars from their accounts and hand it over to him.
According to SFPD, the suspect works like this: He calls a resident and poses as a manager from a reputable bank in town, explaining that he is investigating employee thefts at the bank.
The man convinces his victims that their accounts have been tampered with and that a new account has been set up for them at the bank. He instructs them to withdraw all their money and meet him outside the bank to give him the cash so he can deposit it into the new account, said Officer Albie Esparza.
There were two instances where elderly women withdrew their money, resulting in a loss between $5,000 and $11,000. A third woman was targeted but did not withdraw her money.
The suspect is described as white man between the ages of 55 and 65 years old. He was last seen wearing a black fleece jacket and a baseball cap.
San Francisco Police Financial Crime Inspectors are requesting the public's assistance in identifying the suspect in these bank scams. Witnesses or persons with information are asked to call the anonymous tip line at 575-4444 or "Text-a-Tip" at TIP411 from their cell phones. Please include "SFPD" in the beginning of the text message.
Follow us on Twitter at @SFWeekly and @TheSnitchSF