Police in Cyprus investigate domestic online fraud cases and international investment scam

Cypriot police are investigating two separate local fraud cases reported in Limassol and Paphos. In Limassol, a 50-year-old man lost 29,599 euros after clicking a fraudulent email link that provided scammers with access to his bank account. In Paphos, a 48-year-old woman lost 26,429 euros between April and June after granting remote computer access to an individual posing as an investment advisor. The victim in the Paphos case reported the scam after being pressured for additional payments for security and investment fees. Separately, international authorities recently arrested five suspects in Cyprus, Belgium, and Greece, aged 27 to 45, regarding a large-scale cryptocurrency fraud network. This international ring allegedly defrauded hundreds of victims in Belgium and the Netherlands of millions of euros using fake investment ads and remote access software. The international investigation, which began in January 2024, resulted in coordinated raids across three countries. Cypriot authorities continue to urge the public to exercise extreme caution regarding remote access requests.