Latest scam circulating community involves gift cards

A series of gift cards are pictured. (CTV News)

Collingwood and The Blue Mountains OPP are warning residents of the latest scam circulating the community.

Officers are investigating an incident involving a fraudster convincing someone that local banks are stealing their money and that in order to keep their money safe, they need to purchase gift cards.

As a result of this incident, police want the public to be aware of the red flags when it comes to online and financial fraud.

They say to be aware of if someone is attempting to isolate you by asking you to keep the situation secret and not talk to family and friends. That can be a warning sign for a scam.

Any requests to buy gift cards is a red flag. Also, being told to buy a new phone or computer to communicate through a certain platform could be seen as a scam.

If you feel pressured or a sense of urgency like being told to take immediate action, that is also a warning sign you are being scammed.

Police say if someone is telling you your bank account is at risk and then offers instructions for how to move or protect your money, that can be the sign of a scam.

Finally, police say no legitimate organization or financial institution will ask for payment in gift cards.

The OPP urges anyone who feels they are a victim of fraud, to contact the OPP non-emergency line or the local police station.