STUART, Fla. (CBS12) — A Stuart resident lost $10,000 after a scammer posing as an FDIC employee convinced the victim to withdraw and hand over cash, police say.

According to a Sunday announcement from the Stuart Police Department, a scammer posed as an FDIC employee and told a Stuart victim that bank employees were under investigation.

Due to the fake investigation, the scammer fraudulently instructed the victim to withdraw a large amount of cash, purchase a lockbox, and meet the scammer posing as an undercover officer at a public location.

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Following the instructions of the fraudster, the victim was scammed out of $10,000, per SPD.

The department reminds the public that FDIC, banks, and law enforcement will never ask anyone to withdraw cash and hand it over in public.

Police urge anyone who receives a call like this to hang up and contact SPD at 772-287-1122.