Newsroom
A Cypriot company based in Limassol has fallen victim to an online scam, losing over $81,000 worth of goods in a sophisticated fraud scheme. The incident, which is currently being investigated by the Limassol Financial Crime Investigation Office, highlights the growing risks of online fraud in business transactions.
The company reported the theft on Friday, explaining that the fraud began last October when they received an email from someone claiming to represent a European company interested in purchasing goods. After some back-and-forth communication, both companies agreed to the sale, and the Cypriot company arranged for the shipment of the goods to the buyer’s facility in Europe.
However, after shipping the goods, the company never received the agreed-upon payment. When the Cypriot company reached out to confirm the payment, they were shocked to learn that the European company had never placed an order. It turned out that the email communications were part of a scam, and the entire transaction had been a ruse to steal the goods.
According to the Police, the fraudsters used a fake email address almost identical to the real company’s, making it difficult for the Cypriot company to recognize the scam. The perpetrators were able to deceive the company into sending the goods, which were worth $81,606, without any payment.
In light of this case, the Police are urging businesses to be extra cautious when handling electronic transactions. They emphasized that scammers often create fake emails that look very similar to legitimate ones, allowing them to impersonate companies or partners and trick people into transferring money or goods.
To avoid falling victim to similar scams, the Police recommend businesses always verify transactions by calling their partners directly before shipping goods or processing payments. The call should be made using phone numbers from previous conversations or known contact details to ensure the legitimacy of the request.
This case serves as a reminder for businesses and individuals alike to remain vigilant when engaging in online dealings and to take extra steps to verify the identity of those they are transacting with.
