Islamic fanatics are stealing the life savings of UK pensioners to bankroll jihad in Syria. Masquerading as policemen, the extremists cold-call their targets and claim their bank details have been compromised. The frightened and unsuspecting victims are told to switch all their cash to another account to keep it safe. But the account belongs to the fraudsters and the money vanishes. It will be used to buy weapons, ammunition and combat gear for Islamic State militants. Police last night warned the public to avoid becoming a victim of the ‘cash for jihad’ telephone scam that mirrors swindles used by domestic con men. Anti-terror police are today searching seven addresses around London in relation to an alleged scam in which the elderly were targeted and thousands of pounds of their money being sent to extremists. File photo . The extremists have cheated one pensioner of £150,000. Two other victims, both aged in their 80s and from Cornwall, have lost £130,000 between them. Their only hope of getting their savings back is if the police can catch the culprits and find the cash. And yesterday Scotland Yard said that counter-terrorism officers had just arrested two men – aged 29 and 37 – in west London and a man of 23 in east London. They were being questioned last night on suspicion of fraud and money laundering. ‘Officers are investigating a large-scale fraud linked to UK extremists travelling to Syria,’ a Scotland Yard spokesman said. ‘The arrests form part of an ongoing fraud investigation, whereby unsuspecting vulnerable and elderly victims are cold-called on their home phone by a suspect impersonating a police officer, informing them their bank account has been compromised and deceiving victims into transferring money to an account under the control of the suspect. ‘Members of the public are strongly advised, if you receive a call like this to from someone claiming to be a police officer, hang up the phone, wait at least five minutes to make sure the phone line has cleared, or use another phone line, before ringing the phone number on your bank card.’ The Government is being urged to do more to stop the flow of money to Islamic State. Police suspect fraudsters linked to jihadists in Syria are targeting the elderly and vulnerable. File photo . It is considered to be the richest terror group in history and may have access to more than £1.2billion in cash. Its funds come from the revenue of captured oil fields, business extortion and hostage ransoms. There are also concerns that donations to British aid organisations are being diverted to terrorists. The Charity Commission is scrutinising 86 foundations it believes could be at risk from extremism. Thirty-seven are working to help victims of the Syria crisis. The commission has launched full-scale investigations into four charities operating in the Middle East, including the group that hostage Alan Henning was working for when he was kidnapped and later killed. Another organisation under suspicion is said to have been infiltrated by a suicide bomber. High street banks are closing or freezing accounts held by UK charities working in conflict zones, a think tank claimed yesterday. Salaries paid to the bank accounts of aid workers who live outside the UK have also been delayed or blocked, the Overseas Development Institute said. Scotland Yard announced today that it has arrested three men over an alleged cold calling scam funding terror . Tom Keatinge, a researcher for the ODI, said: ‘Tens of thousands of people in conflict areas such as Syria, Somalia and Gaza are depending on the life-saving assistance provided by UK charities, but these are precisely the locations that present the highest risks to banks under counter-terrorism legislation.’ The ODI wants the Treasury to give improved guidance on how banks, credit card firms, online donation websites and internet payment companies can comply with the law without adversely affecting legitimate aid activities. It also recommends that charities ensure their funds are adequately safeguarded from financing terrorism. One charity, which asked to remain anonymous, has been forced to give up donations worth £2million over the last 12 months as a result of funds being blocked by a bank. Fanatics have previously posed as charity collectors in town centres across the country to raise jihadi money. The arrests come after Terri Nicholson, of the Met's counter-terrorism command, warned benefit fraud, charity scams and student loan cash was being used to fund Islamic State fanatics in Syria. Speaking in November, she said: 'We are seeing diverse fraud including substantial fraud online, abuse of the benefits system, abuse of student loans, in order to fund terrorism. 'We have had a number of cases in recent times where student loans have been abused to fund both crime and terrorism. 'We have seen some cases where virtual currency is being considered and used by both criminals and terrorists. And so we are increasing our understanding of the abuse of those methods.' Speaking at the time, she urged the public to be careful when donating to charities to ensure their money is not diverted by 'undesirable individuals'. In the past two years months, police in London have seized £2.5million of donations destined for criminal and terrorist gangs. Ms Nicholson said police are adopting a 'cradle to the grave approach' to finding and stopping the financing of terrorism. She said: 'Together with the security service, we work extremely closely to understand those individuals who are at the heart of the terrorist financing effort and the enablers to that activity, because to cut off that supply route is the critical aim.' Sorry we are not currently accepting comments on this article.
Police believe fraudsters were taking money from the old to give to ISIS . Pensioners were allegedly phoned and tricked into handing out details . The caller would claim to be a police officer as part of the alleged scam . One victim reportedly lost around £150,000 to criminals, police say . Men, aged 37, 29 and 23, arrested in London after raids on seven properties .