It has been reported to CIFSA that there appears to be an email campaign by fraudsters and scammers targeting clients of Financial Advisors based in Cyprus.
In addition there is a renewed attempt by Nigerian and Cameroon based fraudsters to target individuals selling property in Cyprus via the internet. Internet Crime is sophisticated and endemic and CIFSA are disappointed to note that fraudsters now appear to specifically be targeting victims in Cyprus.
Fraudsters have set up email accounts extremely similar (1 letter/digit different) to an investor’s, and proceeded to email their Financial Advisor firstly requesting a latest valuation, and thereafter requesting a full surrender or suchlike.
(We assume investors’ email accounts have been hacked in order for the fraudster(s) to identify the Advisor (and his/her contact details) and the policies held).
Fortunately CIFSA members have not reported any successful attempts, and CIFSA members have been advised to exercise additional caution for the foreseeable future when dealing with any requests for withdrawals of any amount.
We recommend Investors ensure that they keep their accounts private and secure and limit use on open networks, internet cafes and alike as these incidents are of an extremely serious nature.
If you are targeted by any fraud, CIFSA recommends the matter is reported to the Organised Crime Unit at the High Commission, or the fraud to the Economic Crime Investigations Office of the Police.
Contact Cyprus Police
Address: 85-87 Rigenis Street, 1010 Nicosia, Cyprus.
Telephone Number: 22802200
Fax Number: 22802823
Visit the web page here.
Email Address: police@police.gov.cy
