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.