Farmers have been warned not to fall foul of a telephone scam that could cost them thousands of pounds.

Fraudsters have already pocketed £500,000 from the scam by targeting people in south Lancashire. Farmers are among the victims.

Scammers have been phoning people, including farmers, to warn them that their bank accounts have been compromised. The caller then advises them to contact their bank to transfer money out of the account.

See also Farmers warned to stay vigilant over phone scam

The victim is asked to phone the bank using the published number on the back of their debit card to confirm that the call is genuine. The fraudster holds the line open to intercept this call.

The victim is then asked to provide internet banking log-in credentials, customer numbers, passwords or card and reader codes to transfer the money to another account. But in reality the fraudsters transfer the money into their account.

Because the victim has passed on his or her security details and authorised the bank transfer, the bank may not liable to recover the loss.

• Remember, your bank will never call, email or text you to ask you for your account number, PIN or password to your account. If you are targeted, call police on 101 or Crimestoppers anonymously on 0800 555 111.