Cyprus faces surge in online scams

Online scams are becoming a serious issue in Cyprus, according to a report by Kathimerini's Hector Georgiou, with recent data revealing a sharp increase in fraudulent activities. In the past 25 days, authorities have reported eight significant fraud cases, totaling over half a million euros in losses.

According to the Police, the latest surge in scams involves various fraudulent schemes, particularly those promising high returns on investments. One notable case included a 68-year-old man who lost 183,000 euros through a fake stock investment website.

According to Andreas Anastasiadis, head of the Electronic Crime Sub-Directorate, many of these scams originate from Asia and Eastern Europe. He advised potential investors to conduct thorough research and use reputable companies to avoid falling victim. Anastasiadis also noted that while investigating these cases can be challenging, authorities have successfully recovered funds in some instances.

Recent scams include:

- A 75-year-old man was tricked by a phony investment advisor who accessed his computer and stole €20,000.
- Another victim paid €13,399 for tires but discovered the deal was fraudulent when the shipment failed to arrive.
- A scammer convinced a victim to invest €30,000 in cryptocurrencies, only for the victim to realize later that it was a scam.
- A 67-year-old man transferred €200,000 for supposed bank bonds but later learned it was a fraud.
- A 57-year-old man lost about €33,500 in a fake cryptocurrency investment scheme.
- A 72-year-old invested over €95,000 in two separate online scams, believing he was buying cryptocurrency and making profitable investments.
- A 50-year-old man lost €28,000 through a fraudulent investment website.
- Additionally, a 68-year-old man was deceived into transferring €183,000 after a scammer gained access to his computer under the guise of helping with an investment.

The police warn that these scams often involve deceptive bank websites, fake romantic interests, phishing attempts, and various other schemes. They urge everyone to remain vigilant and verify the legitimacy of online offers and communications.