Nicosia, Cyprus. Police said a 64-year-old woman was defrauded of €39,000 after being deceived through social media by individuals posing as financial and legal professionals.
Initial contact and alleged investment scheme
Police said the woman was contacted in September 2024 via a social media platform by a person claiming to be a financial adviser and investor. The suspect allegedly convinced her to transfer €10,000, saying it would be invested, and later told her the money had generated significant profits and increased in value.
Withdrawal attempt and further demands
When she attempted to withdraw the funds, she was told incorrect bank details had been entered and that an additional €5,000 was needed to correct the issue. Police said her suspicions were raised and she ended contact.
Approach by alleged lawyer and regulator inspector
Police said the woman was later contacted by two other individuals who claimed to be a lawyer and a financial regulator inspector, and who told her they could help recover her money. Trusting them, she made further transfers totaling €29,000.
Investigation continues
Police said none of the €39,000 transferred has been recovered so far and investigations are continuing.
Have you been contacted on social media by someone offering investment or fund recovery services?
