Limassol company loses 105,000 euros in email fraud scheme

A company based in Limassol, Cyprus, has reported a significant financial loss due to a sophisticated email spoofing attack. The incident was officially reported to the Limassol Criminal Investigation Department (TAE) on September 14, 2026, though the fraudulent transaction occurred weeks prior.

The breach began in July 2026, when the victimized company entered an agreement to purchase goods from an overseas supplier. On August 17, the company received a fraudulent email disguised as correspondence from their partner, which included an invoice for 105,000 euros. The email contained banking details for the transfer of funds. Believing the request to be legitimate, the company processed the payment to the specified account on August 25. The deception was only discovered approximately one month after the transaction had been completed.

Authorities in Limassol are currently investigating the cyber-fraud. The focus of the probe is to trace the flow of the stolen 105,000 euros and identify the perpetrators responsible for the digital theft.