Nicosia company loses over 93,000 euros in email fraud case

Nicosia police are investigating a fraud case involving the theft of 93,200 euros from a local company. On January 21, the victimized firm received a legitimate request from a business partner to settle an invoice. On March 3, the company received a follow-up email from a spoofed address mimicking the partner, which provided a new bank account for the payment. Trusting the second communication, the company transferred 93,200 euros to an account held at a bank in another European country. The fraud was discovered after the transfer was completed. The Nicosia Criminal Investigation Department is currently handling the case. Police have issued a public advisory urging businesses to verify payment instructions via phone, using trusted contact numbers from previous authentic correspondence, before processing any financial transactions.