BEC-type fraud in Larnaca: company lost €38,650 via fraudulent email
Unknown individuals impersonated a partner company through a fraudulent email and obtained €38,650 from a business in Larnaca. The case is being investigated by the Economic Crime Bureau.
Fraudulent email deceived Larnaca company into transferring €38,650
Unknown perpetrators unauthorised access to a company's email in Larnaca and, by sending a fraudulent message appearing to come from a partner company, obtained a sum of €38,650, according to Philenews.
The complaint was filed today at Larnaca Police Department by the manager of the affected company. According to the details provided, the perpetrators illegally interfered with the corporate email and sent a message requesting payment of €38,650 for a previous commercial transaction between the two businesses.
The company, following the instructions in the message, proceeded with a bank transfer to the account mentioned in the email. The fraud was discovered later, when the company contacted the partner company directly and ascertained that the bank account did not belong to them and that the message had not been sent by them.
The case is being investigated by the Economic Crime Investigation Bureau of Larnaca Police Department.
In light of the incident, the Police recommend that citizens and businesses receiving payment requests via email always verify their contents by telephone, using a number they already have in use with the counterparty from previous communications. Company owners and managers are also encouraged to inform their staff about this form of fraud—known as invoice fraud—and to establish internal verification procedures before every payment.
Detailed advice on avoiding similar incidents is available on the Cyprus Police website.
Source: Philenews