Cyprus Mail

Paysafe cards not so safe, police warn

A scam designed to defraud victims through the use of prepaid Paysafe cards on the internet is on the rise in Cyprus, police warned on Monday.

According to a statement, police warned the public to be particularly careful in carrying out transactions and report any incidents it becomes aware of.

Paysafe is a widely used prepaid card, used to make online payments.

It can be used to make payments easily and securely, without using a credit card or sharing bank account details.

But despite the security offered by these cards, new incidents of fraud have been observed recently, in connection with these cards, police said.

According to the reports, using prepaid mobile phone SIM cards registered overseas, unidentified individuals contact stores that sell Pay-Safe cards.

Falsely claiming that they are technicians or senior executives at one of the card’s distributors in Cyprus, they report a technical issue in the software issuing the cards, and ask the victims to issue new cards from their system and hand over the codes to them, in order to confirm the system is working properly.

They also promise, after the ‘issue’ has been resolved, to provide victims with cancellation codes, in order to reverse any transactions registered.

As soon as the caller receives the activation codes, he ends the call and is never heard from again.

For the public’s protection, police warned everyone to be particularly careful in their dealings.

Police especially urged caution to the owners and employees of stores that sell such cards, to never issue them over the phone for anyone.

Store owners are urged to educate their staff immediately, as most victims were found to have been employees.

Police also requested that anyone becoming aware of such a fraudulent attempt to report the incident immediately to the nearest police station or the district’s CID.

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