60-year-old man in Paphos reports €51,326 online investment fraud

A 60-year-old resident of Paphos, Cyprus, has filed a complaint with local authorities regarding an online investment scam that resulted in a loss of €51,326. The victim reported that in early June 2026, he was contacted by a Russian-speaking woman who convinced him to invest in oil, gold, and other metals. Following her instructions, he created an account on an unfamiliar website through a link sent via a messaging application.

Between June 9, 2026, and July 29, 2026, the man transferred the total sum to various foreign bank accounts identified by the suspect. The fraud was uncovered when the victim attempted to withdraw the purported profits from his investment, only to find that the woman had ceased all communication. Shortly after the initial disappearance, on August 3, 2026, the man was contacted again by an unidentified male claiming to represent a company involved in the situation, though the nature of this follow-up remains under investigation.

The Paphos Criminal Investigation Department (TAE) has launched an official investigation into the case. Authorities are currently reviewing the sequence of events and the financial transfers to identify the perpetrators. No arrests have been announced as of October 1, 2026, as the investigation into the digital footprint and bank account trails continues.