Rising scams in Cyprus

Telephone and online scams are on the rise in Cyprus, targeting vulnerable elderly individuals and attempting to swindle their hard-earned money. More than 50 such incidents have occurred in recent months, sadly resulting in four victims falling prey to these deceitful fraudsters.

According to reports from SPOR FM 95.0 and the show "Diaspora News," Christos Andreou, the spokesperson for the police, revealed that three people were apprehended a few days ago and are currently under custody. Furthermore, another arrest took place today, indicating an active effort by law enforcement to combat these scams.

While the mastermind behind these fraudulent activities remains outside Cyprus, local accomplices involved in the criminal network have been captured. Mr. Andreou shed light on their operating method, emphasizing that all investigated cases involved international phone calls. The individuals arrested within Cyprus seem to be collaborating closely with the mastermind, carrying out the crucial task of physically collecting money from the elderly victims.

In a separate distressing incident occurring last May, a 78-year-old woman experienced a harrowing encounter with an unknown caller. The perpetrator falsely claimed that the woman had won a substantial amount of money from an investment she had made. Tragically, the woman fell for the scam and unknowingly granted the caller access to her online banking account. Within a month, seven transfers totaling €376,000 were initiated, along with three additional transactions amounting to €9,500, all directed towards a cryptocurrency exchange.

Fortunately, the bank managed to recover a significant portion of the funds, returning approximately €131,000 to the victimized 78-year-old woman.

In conclusion, Mr. Andreou issued a cautionary plea to the public, urging them to remain vigilant. He emphasized that authorities anticipate a surge in similar fraud cases shortly, making it imperative for individuals to exercise utmost caution and skepticism when receiving unexpected calls or requests for personal or financial information.