He had calls to his Neath home asking him to pay the cash by electronic transfer to India so he could have bank charges reimbursed.
The last straw was when he was asked to pay £2,000 — the caller even offered him a taxi to take him to the bank — and police were alerted.
The elderly man was getting several calls a day, including two while police were actually at his home interviewing him.
Inspector Jeff Handley of the Neath neighbourhood policing team said: "This elderly gentleman made six or seven transactions of £100 or more as he believed that this would entitle him to have bank charges of thousands of pounds reimbursed to him.
"Our inquiries to date have established that the man worked for most of his life and has never incurred any bank charges.
"An investigation into this incident is ongoing and we are making arrangements for the victim to be given appropriate support.
"We would remind people not to give personal details over the phone or to engage with cold callers. If an offer is made which appears too good to be true, then it probably is."
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