The 68-year-old shared his story with fellow BBC personality Richard Stead in hopes others could learn from his mistakes.
Levy told Stead that the ordeal was "traumatic," noting that after it happened, he didn't sleep for days. "It's the most horrific, horrific feeling," he added. "You feel stupid, you feel thick."
According to Levy, around 7:20 on the February night in question, the scammers rang him up and said, "this is the fraud department of [the bank] here, we've noticed some unusual activity on your account. Have you spent £500 in the last hour?"
When Levy told them he'd been at work and couldn't have spent that much, they asked him to log on to his account so they could "make some security checks."
"Of course I logged onto the account and of course it wasn't the fraud department of the bank at all," Levy admitted. "It was a fraudster."
The bank soon clued into the actual fraudulent activity, but not before the scammers made off with their loot. His attempts to get the money back with the bank's help are ongoing.
"I've talked about [scams] on the air," Levy lamented. "I've listened to interviews, I've done interviews, and I fell for it. I fell for it badly, and got caught."
He and Stead reminded listeners that one of the things people could do to avoid becoming victims themselves was to make sure that they have complex passwords and avoid using the same one across all accounts.
Levy concluded by detailing a scam he recently came across.
"You go into the car park, a public car park, there's a queue for the pay machine, so you want to scan the app on the wall and pay like that," he said. "Don't do that because ... they're putting stickers on and [people are] getting caught.
"Queue, be patient, don't use the thing on the wall," he stressed, pointing out that "26 people got caught in a day in Hull by that."
