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In the clip, two men press various buttons on the lift and appear to argue with the 69-year-old woman while blocking her exit.
In the meantime, their female accomplice rummages through her handbag before taking the money.
CCTV footage from the lift has been released by the Metropolitan Police, who said the incident happened in the Exchange Shopping Mall in Ilford, east London, on July 26.
The victim had withdrawn her savings from Lloyds Bank prior to being targeted by the gang.