Cyprus Scams: Tourist, Online & Investment Fraud Guide
A guide to scams targeting tourists and residents in Cyprus, including online fraud and investment schemes.
Emergency number: 112 (emergency), 199 (police) — verify on official sources.
Last reviewed: 1 August 2026
Cyprus is a popular Mediterranean destination and EU financial services hub — and its history as a base for licensed forex and CFD brokers has a shadow side. Limassol's brokerage cluster spawned a boiler-room industry whose fraudulent offshoots still cold-call victims across Europe with fake trading platforms, 'account managers' and recovery-room follow-ups; fraudsters also routinely fake CySEC registration numbers or clone genuinely licensed Cypriot firms. Checking the CySEC register — and its warning list — before any deposit is the single most Cyprus-specific piece of fraud protection there is.
The tourist and expat layer is busy too: fake holiday-rental listings for Paphos, Ayia Napa and Limassol collecting deposits for flats that don't exist, timeshare and 'holiday club' pressure sales, unlicensed airport transfer touts, and — a uniquely Cypriot hazard — property sold in the island's north with contested title, which buyers discover only when the legal position surfaces. Residents face phishing impersonating Bank of Cyprus and Hellenic Bank, parcel smishing, email fraud against businesses (police have warned repeatedly of invoice-redirection surges), and romance scams targeting the large expatriate community.
The Cyprus Police Cybercrime Unit accepts reports through its online platform at cybercrime.police.gov.cy, and CySEC handles investment-firm complaints. Bank first when money has moved; regulator and police immediately after.
Common scams
- Email fraud impersonating banks, tax authorities and utility companies
- Online investment and crypto fraud using Cyprus regulatory branding as cover
- Romance scams targeting expatriates through dating apps
- Fake rental listings in tourist areas collecting deposits then disappearing
Tourist-specific scams
- Overpriced or unlicensed taxi and transfer services from airports
- Fake holiday rental listings in Paphos, Ayia Napa and Limassol
- Timeshare and holiday club pressure sales on the seafront
- Unofficial tour guides demanding inflated fees at archaeological sites
Online shopping scams
- Phishing impersonating Bank of Cyprus and Hellenic Bank
- Parcel delivery smishing claiming customs fees
- Fake e-commerce stores targeting Cypriot consumers
Job scams
- Fake hospitality and domestic worker recruitment requiring advance fees
- Task scams on messaging apps offering easy online income
- Bogus fintech and 'sales' roles that are fronts for boiler-room operations
Romance scams
- Extended online relationships ending in money transfer requests
- Pig-butchering investment scams launched via social media or dating apps
- Romance grooming aimed at the island's retiree and expat community
Investment scams
- Unregulated Forex and crypto platforms falsely claiming CySEC registration
- Clone firm fraud impersonating CySEC-regulated brokers
- 'Recovery room' operators charging upfront fees to reclaim earlier trading losses
How to report a scam here
- Report cybercrime online at cybercrime.police.gov.cy or call the Cybercrime Unit on +357 22808200
- Call 112 or 199 for police in urgent situations
- Contact your bank immediately to dispute any unauthorised transactions
- Report investment fraud to the Cyprus Securities and Exchange Commission (CySEC) at cysec.gov.cy
Local reporting & protection links
Always verify reporting routes and emergency contacts on the official government or agency website for your country.
Bank & payment guidance
Ring your bank without delay on the number printed on your card or through its official app, not a number given to you. Ask for accounts to be frozen, for the payment to be disputed and recalled, and for the receiving account to be reported, then note the reference you are given. Say plainly that you were deceived into authorising it. Deposits card-funded onto fake trading platforms should be disputed as chargebacks, and repeated 'withdrawal fee' payments listed individually. File a parallel report with the Cyprus Police Cybercrime Unit and give the bank that reference; if a firm claimed CySEC regulation, notify CySEC too so a public warning can be issued. If card details or login codes were shared, ask for a new card and change your passwords — and treat any later call offering to 'recover' the loss for a fee as the same criminals returning.
Evidence to preserve
- Screenshot all messages, profiles, websites and payment pages
- Save transaction references, account numbers and crypto wallet addresses
- Keep emails with full headers where possible
- Note dates, times, names and phone numbers used
Frequently asked questions
How do I report investment fraud in Cyprus?
Report to the Cyprus Securities and Exchange Commission (CySEC) at cysec.gov.cy if the fraud involves a financial product or broker. Also file a report with the Cyprus Police Cybercrime Unit at cybercrime.police.gov.cy. Keep all communications and transaction records as evidence.
How do I check a forex or CFD broker claiming to be Cypriot?
Search the CySEC register for the firm and compare every contact detail — clone firms reuse real licence numbers with their own phones and websites — and check CySEC's published warning list. Unsolicited calls offering trading opportunities, guaranteed returns or 'account managers' are the boiler-room signature regardless of what licence is claimed.
What is the property title issue in northern Cyprus?
Property in the island's north may sit on land whose pre-1974 owners still hold legally recognised claims, and buyers have faced litigation and loss. Any purchase there needs specialist independent legal advice on title history — not just the seller's or developer's lawyer — before money changes hands.
Sources
- National police and cybercrime portals (verify on official sites)
- FTC / Action Fraud / Scamwatch consumer guidance