I knew immediately that he had been scammed – how criminals caught Roy out and stole £4,921 from him

The clever scammers managed to convince him they were legitimate, and as a result, walked away with everything he had.

Ripping off older people is the lowest of the low. What makes it worse is victims are often too afraid, ­confused or ­ashamed to speak out.

This week, I was contacted by 68-year-old Roy from Nottingham who wanted my advice. I knew immediately that he had been scammed and I told him to take the matter to the police.

Roy, a very proud man, is deeply embarrassed by it all and does not want his family to know so is ­reluctant to report it. But he was happy for me to share his story so other people would not fall for the same scam.

How safe are your savings?

It all started off with a phone call from an organisation calling itself Premium Retirement Savings.

They asked Roy if he was retired and if he had savings. Roy said he was – and he had.

He was then informed that Premium Retirement Savings had been set up to provide people like him with a safe and effective ­savings account. The man on the line told him that by using the account, he would enjoy an interest rate of 14.5%, which in today’s climate, with the base rate being so low, is exceptional.

He was also told he would have an account manager who would be available to provide assistance with any queries at all times.

Roy was interested and agreed to have a meeting at his home to discuss the account further. After this meeting, he was ­convinced it would be a wise move for his future – and signed two documents to open an account.

‘Pay in cash and it’s free for 2 years’

He was told if he deposited cash into the account, rather than ­transferring funds from another account, he would receive free banking for two years.

Roy did not give this a second thought. It was then agreed that the man would return to pick up the cash from Roy.

The next day, Roy handed over his entire £4,921 savings.

He was told he would receive a statement and receipt within two days. Eight weeks later, he has not had a single word.

This is a lesson to us all – we must all do more to protect our older loved ones from these types of scams.

And never be embarrassed if you fall victim to a scam – you will not be alone.