A retired businessman was nearly scammed out of more than £800,000 by fraudsters.

The local man - whose identity has not been revealed - was targeted by a banking scam that could have cost hundreds of thousands of pounds.

He was initially duped by a phone call that appeared to be from his bank - but because his wife had doubts, he investigated further and realised it was a scam.

The caller warned him of two withdrawals from his account that they thought were suspicious and they would be reporting it to the Financial Conduct Authority.

Later that day, he received a phone call claiming to be from the Financial Conduct Authority about this suspicious activity and they said that they would email a report to him later that day, which they did.

The next day, his bank phoned asking if the Financial Conduct Authority had been in touch and he was able to confirm that this had taken place - but by this time, he was starting to become suspicious about the situation.

Geoff Pegg, from the Wycombe District Neighbourhood Watch Association explained in a warning to members: "He had become increasingly worried by these calls and he went to the police to report everything.

"They recommended that he send his report in to Action Fraud and to go to his bank to discuss everything.

"He found his bank to be extremely helpful and they confirmed that all of the calls had been a scam.

"Fortunately, he was able to stop any of his investments being liquidated.

"The key lesson on this is to note that any out of the blue communication involving money needs to be double checked to make sure it is authentic.

"Do not trust any phone numbers the caller may give you. By going to the bank to make such a check, this gentleman prevented the loss of his life’s savings."