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A 64-year-old woman in Cyprus lost €39,000 after falling victim to what police believe was a sophisticated online investment scam that unfolded over several months, authorities said Tuesday.
According to her complaint to the Nicosia Criminal Investigation Department, the ordeal began in September 2024 when she met a man through a social media platform who claimed to be a financial adviser and investor.
The man allegedly persuaded her to transfer €10,000 for what he described as investment opportunities that promised strong returns.
At first, everything appeared legitimate.
The woman was later told that her investment had generated major profits and that the amount had grown significantly, giving the impression that the scheme was working.
But when she attempted to withdraw the money, the situation changed.
She was allegedly informed that incorrect bank account details had been entered and was told she needed to pay another €5,000 to “fix” the issue before the funds could be released.
That demand raised suspicions, and she cut off communication.
However, the scam did not end there.
Police said the woman was later contacted by two more individuals who claimed to be a lawyer and an inspector from Germany’s Federal Financial Services Supervisory Authority. The pair allegedly told her they could help recover the lost money.
Believing she was finally dealing with legitimate officials, the woman transferred an additional €29,000.
According to the complaint, she has not recovered any of the money.
The case is now under investigation by the Nicosia CID.
