**Police Alerted as Online Fraudsters Target New Cyprus Co-op Bank Share Scheme**
The Pancyprian Cooperative Society for Participation and Promotion of Cooperativism has reported an attempted online scam to the police, following the emergence of fake websites and social media accounts that falsely claim to assist individuals in purchasing shares of the newly proposed cooperative bank in Cyprus.
These unauthorized platforms have been misrepresenting themselves as legitimate sources of support for potential investors looking to participate in the ongoing share offering. The cooperative society has issued a clear warning, stating that no individual, company, or third party has been authorized to act on its behalf or to facilitate transactions related to the share purchase.
The organization has identified its official website as the sole corporate site for transactions, emphasizing that applications to become a member and to buy shares must be conducted exclusively through its dedicated share platform. As of Monday, the official sites were independently accessible, providing a secure avenue for interested parties.
This alert comes at a critical time as the cooperative society is in the process of raising capital to establish a new cooperative credit institution in Cyprus. The share offering, which has been approved by the Cyprus Securities and Exchange Commission (CySEC), began on July 22 and is set to continue until November 17. The offering includes up to 42 million new shares, each with a nominal value of €1. The minimum investment required through the official online platform is €100.
While the approval of the prospectus by CySEC is a significant step, it is important to note that it does not imply an endorsement of the shares themselves. Furthermore, the proposed bank will require necessary regulatory licenses before it can commence operations.
In light of the fraudulent activity, the cooperative society has urged the public to exercise caution when encountering any online pages or profiles that claim to represent the initiative. They advised potential investors to refrain from providing personal or financial information through unofficial sources and to verify any communications before proceeding with a share purchase.
For those seeking confirmation or assistance, the cooperative society has provided official support numbers: 97913011, 97913012, 97913013, and 97913014. Additionally, inquiries can be directed to their email at [email protected].
The police complaint was filed after the discovery of the fraudulent online material, which the cooperative society has described as an attempt to mislead and defraud individuals interested in their share offering. The organization remains committed to protecting its members and ensuring that the investment process is secure and transparent.
As the share offering period continues, the cooperative society is focused on building a trustworthy relationship with potential investors, emphasizing the importance of using only verified channels for any transactions related to the new cooperative bank.