In Brief: Bank-Exam Scam Hits Wis., But Could Spread

A 20-year-old con game known as the bank examiner fraud has resurfaced in Wisconsin, and authorities are warning banks throughout the Midwest to be on guard.

The scam works like this:

A man calls a bank customer, usually an elderly one, and represents himself as an examiner working on an investigation. The victim is asked to withdraw money and deliver it in person to the con artist, who promises it will be returned after the investigation.

Jerry E. Wiesmueller, vice president of corporate security for $14 billion-asset Marshall & Ilsley Corp., the holding company for one of the banks hit, said authorities believe there have been 15 local cases in recent weeks. About $15,000 has been stolen, he said

Mr. Wiesmueller, a former police officer, said that the suspect is thought to be on the move, and that his next strike could be outside the state.