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Woman scammed out of €10,000 in online loan fraud

Cyprus Mail · 2026-08-12

AI SUMMARY

• What happened: A woman in Cyprus was scammed out of €10,000 through an online loan fraud scheme after responding to a social media advertisement and providing her personal details. • Why it matters: This incident highlights the increasing threat of online fraud, particularly through social media platforms, and underscores the need for public vigilance when engaging in financial transactions online. • What to watch next: Authorities are investigating the case and have urged anyone with similar experiences or information to come forward, while also emphasizing the importance of caution in online financial dealings.

**Woman Scammed Out of €10,000 in Online Loan Fraud**

Police in Cyprus are alerting the public about a recent online loan scam that has resulted in a significant financial loss for a local woman. The incident, which highlights the growing threat of online fraud, serves as a warning for individuals who may be seeking financial assistance through social media platforms.

According to police reports, the victim, whose identity has not been disclosed, encountered an advertisement for a loan on social media. Trusting the legitimacy of the offer, she clicked on an electronic link that directed her to a website. There, she was prompted to provide personal information, including her phone number.

On July 24, shortly after submitting her details, the woman was contacted by individuals who identified themselves as representatives of the loan service. They encouraged her to proceed with a transfer of €10,000, claiming that this amount was necessary to secure the loan. To facilitate the transaction, the suspects sent her a QR code, which she was instructed to use for the online transfer.

After completing the transaction, the woman began to suspect that she had fallen victim to a scam. Realizing the gravity of the situation, she promptly filed a complaint with the police, who have since launched an investigation into the matter.

Authorities are emphasizing the importance of vigilance when it comes to online financial transactions. They advise individuals to thoroughly research any loan offers, particularly those encountered through social media, and to be cautious about sharing personal information with unknown entities.

The police have not yet disclosed any details regarding the suspects involved in this case, but investigations are ongoing. They are urging anyone who may have experienced similar scams or who has information related to the case to come forward.

As online scams become increasingly sophisticated, law enforcement agencies are working to raise awareness and educate the public about potential risks. This incident serves as a reminder of the necessity for caution in the digital age, especially when it comes to financial matters.

Source: Cyprus Mail
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