Cyprus has seen an alarming rise in online scams, with many unsuspecting citizens falling prey to scammers who know very well how to cover their digital tracks.
Almost every day, complaints from Cypriots are submitted to the Police Electronic Crimes Department. Some are drawn into cryptocurrency scams, while others become victims of scammers who send spam under the guise of Cyprus mail.
Cybersecurity expert Dinos Pastos said that with the advent of artificial intelligence, fraud will increase and take other forms. Some particularly savvy scammers are already calling people and speaking Greek through this system and trying to convince them to either invest in cryptocurrencies or gain access to their accounts.
He said scammers have gone so far as to contact people who have already been scammed and pretend to be from a company that can help them get their money or social media account back, resulting in them being targeted twice.
In addition, so-called romance scams are thriving on the island, in which supposed soldiers or sailors contact women of a certain age and, after communicating with them, say that they have been captured (in Iraq or elsewhere). They convince them to send them money so that they can free themselves and come to Cyprus to marry them. According to Pastos, there are several cases of Cypriot women falling victim to similar schemes.
At the same time, according to police, parcel fraud continues. Since many people order packages through special platforms, scammers send them a message that they need to pay a small amount to receive them, and if the victim falls into the trap, then the criminals have their credit card details.
As the cybersecurity expert mentions in his post, “We often hear that one lost €260,000 and another €30,000 while trying to invest in cryptocurrencies.” As he explains, this is not a new method of fraud, these people just didn’t think it would be their turn. According to him, this will continue until we all understand that scammers have incredible methods of persuading their victims. They know how to exploit our weaknesses, ambitions and problems.
“Despite the huge amount of information, we see that the number of victims is not decreasing, but on the contrary!” said Pastos.This is because overconfidence is ultimately a trap, he says. Many of us believe that we are “smart” and will never become victims of fraud. They think they “know better” or that they have the ability to spot scams. But this self-confidence can lead to people relaxing, which is what scammers take advantage of.
According to him, human nature and our emotions are the greatest weapons of scammers. They know how to play with our emotions. Whether it's fear, greed, hope, or the need for help, we are vulnerable when our emotions are involved. The promise of quick money or the pressure to respond immediately to an “emergency” can cause us to override our judgment and fall into their trap.
Fraudsters are constantly adapting. They don't use just one method. They adjust their tactics to be more convincing and sophisticated. They design their schemes based on the latest data and current trends to make them look as realistic as possible. So even the most suspicious can be persuaded. Lack of training and attention is one of the biggest risks.
Finally, advanced technologies such as artificial intelligence have given scammers more tools to create convincing scams. Whether it's fake websites that look like the real thing or fake calls and emails, technology has made it harder to detect scams.
Last year, police investigated 422 cases, mostly related to wire fraud, and another 425 in 2022. However, this year there has been a steady increase in the number of complaints (figures are not yet available), although many do not contact the police.
Source: philenews.com
