Fraudsters target high-value credit transfers in Cyprus as losses double

Fraudulent payment transactions in Cyprus surged by 30 per cent in volume and 66 per cent in value in the first half of 2025, although they remain below euro area averages in relative terms, according to a report from the Central Bank of Cyprus (CBC).

The central bank said total fraudulent payment transactions rose to approximately 16,000 cases in the first six months of 2025, compared with the same period in 2024, while their total value climbed to almost €4 million.

This...