Cypriot Banks Warn of Increased Online Fraud During the Holiday Season

The Banking Association of the Republic of Cyprus has issued a warning about a rise in online fraud attempts during the upcoming holiday season. As is typical before the holidays, there is an increase in commercial activity both online and in physical stores.

In its statement, the association highlighted that the most common types of fraud involve SMS messages, various communication platforms, social media, as well as phone calls and emails.

"The most frequent scam involves a link claiming to be related to a technical issue. Fraudsters use this excuse to try and gain access to people's account details," the statement explains.

The Banking Association emphasizes that the best defense for citizens is to stay cautious. They advise against responding to suspicious messages or phone calls and urge people not to click on any links sent via SMS or email.

Cypriots are encouraged to stay alert, calm, and vigilant when managing their accounts.