Police are warning Waterloo Region residents of a scam that is targeting students in Asian communities attending post-secondary schools in Waterloo.

Investigators with Waterloo Regional Police say they received five reports of the scam over the last two months.

One individual reportedly lost $75,000 to fraudsters in September.

Investigators say the scammers contact a victim and identify themselves as a member of Shanghai police.

They say the fraudster tells the victim that a suspicious package was found under their name, and that they need to send money to clear their name or face prosecution.

In total, the scammers reportedly stole $478,000.

Anyone who may have received such a phone call or email can contact Waterloo Regional Police at 519-570-9777 or Crime Stoppers at 1-800-222-8477.

This article was originally sourced from www.msn.com