In recent times there has been an upsurge in complaints received by the police about various forms of online fraud. More specifically, a large number of complaints have recently been received by the Nicosia CID, concerning the following forms of online fraud:
1. Interference in the electronic communication between supplier and customer and fraudulent instructions to process payment to a bank account of the fraudsters (man in the middle).
In these cases the party making the payment receives an email from a slightly spoofed email address (possibly with a letter or even a dot or dash), which looks like the email address of the supplier or its partner, with instructions to pay an invoice to another banking institution. The unsuspecting person proceeds to process the transaction, resulting in their money ending up with the fraudsters.
2. Orders placed via fraudulent websites, which are presented as genuine
In this case, payment is made without goods being received or different products are received from those originally ordered, of zero value. This category also includes renting an apartment abroad, with the payment of a fee, which the fraudsters receive without the apartment ever being rented.
3. Selling goods over the Internet and paying for them with cryptocurrencies, without the transaction ever taking place.
4. Approaching victims on social media (facebook, messenger, Instagram, etc.), promising a relationship, marriage etc (romance[/B]scam) where at a later stage, the abuser starts asking for money allegedly to enable his arrival in Cyprus. It is noted that in this case, the perpetrators repeatedly ask for the payment of small amounts of money so that their victims end up sending them large sums of money in total.
5. Once the money is paid into the various platforms (wallets) indicated, it is then transferred to other e-wallets and disappears. A similar approach is used in cases where victims are invited to invest in various online platforms in shares, foreign exchange etc., again with promises of very high returns and in the end these platforms are closed and the money is lost (binary option investments).
6. Sending fraudulent emails or sms
which appear to have been sent by the bank[/B] and which ask the customer to enter their bank account codes for the purpose of upgrading services, resulting in fraudsters gaining access to the bank accounts of unsuspecting citizens and embezzling large sums of money (phishing).
Public protection measures
With regard to case number 1, the public is advised to be particularly vigilant. In particular, merchants dealing with payments of large sums of money should confirm their customers' instructions received by email and other means, e.g. by telephone, even if they appear to come from their customers.
In case number 2, the public should be aware that online purchases are very risky. Buyers should be confident and reasonably aware of the prospective supplier and the websites they intend to use. If they think something is wrong, it is better not to make the purchase.
In case number 3, it is recommended that payment by cheque, card or electronic currency should be avoided when selling goods.
In case number 4, the public should bear in mind that they should not trust unknown persons and keep in mind the possibility that various profiles are fake.
For case number 5, the public should be very careful and should not trust strangers who are likely to approach them and promise them high returns on investments.
For case number 5, the public should be very careful and should not trust strangers who are likely to approach them and promise them high returns on investments. Before people make such investments, they should obtain an expert's opinion beforehand.
For number 6, the public should be aware that the bank will never ask for confirmation of personal details or passwords by e-mail or text message. These messages should be ignored.
Further information and advice can be found at www.Cyberalert.cy
Contents of this article including associated images are belongs Cyprus Times
Views & opinions expressed are those of the author and/or Cyprus Times
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