Paphos man loses over €65,000 in two online investment scams
A 60-year-old man in Paphos fell victim to two consecutive online investment scams, resulting in losses exceeding €65,000, police reported. Initially, he was contacted by a Russian-speaking woman in early June who convinced him to invest in shares related to oil, gold, and metals through an unknown website. Between June 9 and July 29, he transferred €51,326 to overseas accounts. When he tried to contact the woman after seeing supposed profits, she stopped responding, revealing the scam.
Shortly after, on August 3, another individual claiming to work for a company specialising in recovering lost funds contacted him. Promising to recover €280,000, the man paid an additional €14,000 between August 3 and 31 for fees and commissions but received no reimbursement. Authorities have urged the public to exercise caution with online investments, deal only with authorised firms, and protect personal and banking information to avoid similar scams.
CYPRadar is a state-of-the-art, AI-powered Cyprus news aggregator that automatically crawls, filters, and translates local updates in real time. By continuously scanning a wide range of trusted Cypriot media outlets, blogs, and official RSS feeds, the platform identifies original stories and uses advanced language models to filter out duplicate coverage. The service then generates concise, objective summaries, ensuring that readers get a quick and clear understanding of every significant event without information overload.
The primary mission of CYPRadar is to provide comprehensive, multi-language coverage of Cyprus news to keep both residents and international visitors well-informed. The platform covers key events across all major cities and districts, including Nicosia, Limassol, Larnaca, Paphos, and Famagusta. By offering all updates simultaneously in five languages — English, Russian, Greek, Ukrainian, and Turkish — CYPRadar bridges communication gaps and ensures that everyone has equal access to critical local information, from policy changes to community events.
Follow police reports, crime statistics, and justice updates in Cyprus. Read about local law enforcement operations, safety measures, judicial court cases, road safety controls, and community policing initiatives.