Police are warning Waterloo Region residents of a scam that is targetting 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.