Officials at Hanson Wealth Management, based at the Quadrus Centre, Boldon, have issued a warning about the international email con.

Police and the Financial Services Authority have been alerted about the scam, which possibly originates in Nigeria.

Chris Kelly, managing director of Hanson Wealth Management, said those behind the scam were using his company's name to try to legitimise their operations.

He said: "The scam works by gradually drawing people in with the promise of substantial sums of money for helping to open a UK bank account, into which money will be transferred from overseas.

"There is no apparent financial risk to the client and so people can be fooled into looking at this more closely.

"Once they do, they will become embroiled in a very elaborate and well-rehearsed process that has conned many people out of hundreds of thousands of pounds in the past."

The Boldon firm has alerted Northumbria Police's economic crime unit, based in Newcastle, about the scam.

Mr Kelly said: "If someone checks out the details that the fraudsters have provided, then they will see that Hanson WM exists and we are an established firm.

"We have built a solid reputation over the last few years and are easily found with an Internet search. This adds to the apparent credibility of the fraud.

"Most people would hopefully see through this scam and ignore it. However, someone could fall into the trap of thinking that it has come from us and therefore presents a genuine opportunity."

Anyone emailed details of a UK bank account deal involving Hanson Wealth Management should contact South Tyneside police on 454 7555.