FAMAGUSTA GAZETTE – Authorities in Limassol are investigating an internet fraud and extortion case in which perpetrators deceived a local company into transferring more than €642,000 to a fraudulent bank account, police said Monday.
According to a statement, the company was misled by an email purporting to be from a business partner. The message, received earlier this month, claimed the partner’s bank account details had changed and provided new account information in another European country. Acting on the instructions, the company transferred €642,658 to the account, later discovering it did not belong to their partner.
The company reported the case to the Limassol Criminal Investigation Department, which is now handling the inquiry.
Authorities urged businesses and individuals to verify any changes in payment instructions by directly contacting the intended recipient using previously verified phone numbers or email addresses. Company leaders were also advised to inform employees about such scams and to establish verification procedures for payment approvals.
Police said the investigation is ongoing.