Cyprus Police Arrest Several Suspects in Connection with Elderly Financial Scams
Cyprus, the picturesque Mediterranean island, has unfortunately become the latest hotspot for telephone and online scams. these scams have been targeting vulnerable elderly individuals, swindling their hard-earned savings. In the past few months, at least four such cases have been reported.
Arrests Made by Cyprus Police
According to recent reports on SPOR FM 95.0 and the “Diaspora News” show, [Christos Andreou](https://cyprusnews.microsoft. com/en-us/topics/government/people/christos-andreou/v-2532903517), the Cyprus Police spokesperson, confirmed that three individuals were arrested a few days ago and are presently under custody. On a related note, another arrest transpired today, representing a significant active effort by local law enforcement to tackle the issue head-on.
Criminal Network’s Modus Operandi
Christos Andreou divulged details about the criminal network’s modus operandi, noting that all investigated cases involved international phone calls. Local accomplices in Cyprus collaborated closely with the mastermind, executing the critical task of physically collecting money from elderly victims.
Harrowing Incident
A particularly harrowing incident occurred last May, involving an elderly 78-year-old woman. The woman received a call from an unknown person who falsely declared she had won a substantial sum of money from a previous investment. Heartbreakingly, the woman fell for the ruse and unwittingly granted the caller access to her online banking account.
Over the next month, an alarming sevent transfers totaling €376,000 and an additional three transactions amounting to €9,500 were executed, all aimed at a cryptocurrency exchange.
Warning to the Public
Despite the losses, the woman saw a sliver of hope with the bank recovering approximately €131,000 of the stolen funds, which were subsequently returned to her. Mr. Andreou issued a stern warning to the public, urging them to remain vigilant against similar fraud cases. With the anticipated increase in such incidents, individuals must take extreme caution and maintain a healthy dose of skepticism when responding to unexpected calls or providing personal or financial information.
Incident Details
- Four reported cases of telephone and online scams in Cyprus targeting elderly individuals
- Three suspects arrested in recent days, one more arrested today
- Criminal network involved international phone calls, local accomplices extract money from elderly victims
- Case of elderly woman losing €385,500 to scam, €131,000 recovered
Recommendations for Seniors
- Be skeptical of unsolicited calls or communications
- Never share personal or financial information with strangers or unverified sources
- Check with financial institutions, family members, or trusted advisors before making significant financial decisions
- Update antivirus software and secure online accounts regularly
- Use call-blocking tools or consider registering for the National Do Not Call Registry (CYPRUS)
Update: Additional Arrest Made in Connection with Elderly Financial Scams
On the heels of our previous report, another arrest was made in connection with the Elderly Financial Scams in Cyprus.
Read the latest Update: Additional Arrest Made in Connection with Elderly Financial Scams