A Limassol company lost €1.2 million in an online fraud scam, its 35-year-old owner told police on Monday.

The company is registered abroad but operates an office in Limassol. According to the owner, the business had entered into an agreement with an investment company.

Two transfers were made in November and December for €900,000 and €300,000, following instructions received via email.

The company later discovered fraudulent messages were sent, causing the transfers to be made to a different account, not the investment company’s account.

The financial crime investigation office of the Limassol CID has taken over the investigation.

Police confirmed they are examining all communications and transactions related to the case. No suspects have been publicly identified.

Authorities have urged businesses to verify email instructions for large transactions and to report any suspicious activity immediately.