**Paphos Man Loses €65,000 in Double Scam**
A 60-year-old resident of Paphos has reported losing over €65,000 after falling victim to a two-part scam involving an online investment scheme and a subsequent fraud promising to recover his lost funds, according to local police.
The incident began in early June when the man was approached by an unidentified woman who spoke Russian. She presented herself as an investment advisor and offered him an opportunity to invest in shares related to oil, gold, and other precious metals. Following her instructions, the victim opened a link sent via a messaging application and created a profile on an unfamiliar website designed for the investment scheme.
From June 9 to July 29, the man transferred a total of €51,326 to various bank accounts located abroad, which were provided by the woman. Initially, he believed his investments were yielding significant profits. However, when he attempted to reach out to her for further information, he received no response, leading him to the unfortunate realization that he had been scammed.
Shortly after this discovery, on August 3, the man was contacted again through a messaging application, this time by a male individual who claimed to work for a company specializing in recovering funds lost to online scams. This new contact assured the victim that he could help recover €280,000, which was purportedly the total amount of his losses.
Between August 3 and August 31, the victim transferred an additional €14,000 to overseas bank accounts to cover various fees, commissions, insurance, and taxes as instructed by the scammer. However, when no funds were recovered, he recognized that he had fallen victim to a second scam.
In light of this incident, local police have issued a warning to the public, urging individuals to exercise caution when engaging in online investments. They emphasized the importance of dealing only with recognized companies and authorized financial advisors. Additionally, authorities advised against sharing access to electronic devices or online accounts and stressed that personal and banking information should never be disclosed to unknown parties.
The case highlights the increasing prevalence of online scams targeting unsuspecting individuals, particularly those who may not be familiar with safe investment practices. Police continue to investigate the matter and encourage anyone who may have experienced similar situations to report them immediately.