Cyprus Sees Rise in Banking Scams Targeting Elderly, Four Victims Fall Prey
In recent months, Cyprus has witnessed a significant surge in telephone and online scams targeting vulnerable elderly individuals, with more than 50 such incidents reported. According to reports from SPOR FM 95.0 and the show “Diaspora News”, four victims have already fallen prey to these deceitful fraudsters.
Police Efforts
Police spokesperson Christos Andreou revealed that three people were apprehended a few days ago and are currently under custody, while another arrest took place today. This indicates an active effort by law enforcement to combat these scams. The mastermind behind the fraudulent activities remains outside Cyprus, but local accomplices involved in the criminal network have been captured.
Modus Operandi
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.
Distressing Incident
In a separate distressing incident occurring last May, an 78-year-old woman experienced a harrowing encounter with an unknown caller. The perpetrator falsely claimed that she 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.
Public Caution
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.
- Be cautious of unsolicited phone calls or emails claiming you have won money or prizes.
- Never grant access to your online banking account or share sensitive financial information with unknown individuals.
- Verify the authenticity of any investment opportunities before committing to them.
- Report any suspicious activity to the authorities immediately.