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fraud online transactions

Unveiling the Recent Electronic Fraud in Limassol: A Cautionary Tale for Merchants

A recent incident in Limassol highlights the dangers of online invoice fraud. A company fell victim to a scam when they received an email from their supplier with changed banking details, leading them to transfer over €16,000. It is crucial for merchants to verify payment details directly with suppliers, educate staff about fraud, and invest in strong security measures to prevent falling prey to invoice fraud.

cybersecurity small and medium enterprises (smes)

Cyprus Invests in Cybersecurity for Small and Medium Enterprises

Cyprus has launched a €1 million cybersecurity support scheme for SMEs, offering grants ranging from €20,000 to €60,000 to enhance their digital defenses and comply with cybersecurity standards. The initiative aims to protect the nation’s economic pillars, boost market competitiveness, and ensure consumer trust in the digital age.

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