A contracting company based in Limassol fell victim of a new online fraud scheme and was scammed out of over fifty thousand euros.

The company reported the incident on Tuesday to the Limassol CID saying the following electronic communication with a Nicosia-based supplier, an agreement was made to purchase building materials worth €52,780 and pay the amount into a Cypriot bank account.

The targeted company subsequently received an email, apparently from the supplier, with new instructions to pay the amount into a UK account.

On September 14, the contracting company proceeded to transfer the amount to the account indicated to it, and in the following days it found that it had fallen prey to fraud, since the account abroad did not belong to the supplier nor had the supplier sent an email with new instructions.

The case is being investigated by the financial crime unit of the Limassol CID.