Police investigate major scam
Authorities are investigating a new online fraud case in Cyprus after criminals tricked a Nicosia company into transferring over €120,000.
The company reported the case to the Nicosia CID today. The fraud began last November when the company received an email appearing to come from a foreign partner company. The email falsely stated that the partner had changed its bank account and instructed the company to send future payments to the new account listed in the message.
Payments made to fake account
Following the email’s instructions, the Cypriot company made multiple payments between December and 26 January, totaling €123,943, to the fake bank account in another European country. The scam came to light on 26 January when the director contacted the partner company, which confirmed it had not changed accounts.
The Economic Crime Investigation Unit of the Nicosia CID is handling the case.
Police issue safety advice
Police warn the public to verify any email requesting payments before transferring funds. Verification should occur via phone calls to known numbers previously used for legitimate communications with partners.
Business owners and directors should inform their staff about this type of scam and implement verification procedures for payment requests.
Authorities provide more information and safety tips for avoiding online fraud on the Cyprus Police website.
Also read: Cypriot extradited from France over €700M Limassol fraud case
For more videos and updates, check out our YouTube channel
