Artificial intelligence in Cyprus is no longer used only for entertainment or work - it has become a tool for large-scale fraudulent schemes.
In recent months, dozens of island residents have become victims of realistic deepfake videos, losing large sums of money. According to authorities, the most high-profile hoaxes included fake videos of the President of the Republic of Cyprus, Nicos Christodoulides, businessmen and famous world figures, who allegedly advertised investment platforms with incredible returns.
About 15 people in Cyprus lost between €10,000 and €15,000 each after believing a video in which Christodoulides, along with politicians Averof Neophytou and Charis Georgiades, “recommended” a platform that promised “financial well-being for all.”
Digital Security Commissioner Georgios Michailidis said that today there are no tools or mechanisms that could automatically protect people from such fraudulent deepfake videos.
“It becomes almost impossible to recognize a fake. You need to look at the details - hands, facial expressions, image defects. But AI is already too realistic, and in the coming years it will be even more difficult to recognize a fake,” he warned.
Among those whose names have already been used in similar schemes:
easyGroup founder Sir Stylianos Haji-Ioannou, whose name was used in an advertisement for the easyProfit crypto platform; singer Anna Vissi; ECB head Christine Lagarde; businessman John Christodoulou, who personally published a fake video of himself and said: “It’s not me”; Greek showman Sakis Tanimanidis, used in an advertisement for a fictitious application.
Particularly discussed was a video fake in which Donald Trump allegedly promised to “come to Cyprus” and “drive the Turks into the sea,” accompanying his speech with wishes for “delicious souvla.” Many users believed the video - MP Christos Christofidis admitted that he received dozens of messages with enthusiastic comments.
Since the beginning of 2025, the Cypriot police have received more than 120 complaints of fraud, and the number of complaints is growing every month. The authorities are considering creating a special cyber analytics department with the participation of international specialists.
Source: in-cyprus.philenews.com
