Fraudsters rely on panic and urgency.

Before doing anything, we should pause for a moment and carefully assess the situation.

We ask ourselves:

• Are we being pressured to act immediately?
• Are we being asked for personal information or money?
• Is someone trying to frighten us or tempt us with a unique opportunity?
• Can we independently verify that this communication is genuine?

If something seems unusual, we should not proceed until we we are certain that the communication is legitimate.

💡 Remember

Pressure to make an immediate decision is one of the most common characteristics of financial fraud.

We never trust phone numbers or links included in suspicious messages. Instead, we find the organization's official contact details ourselves.

If we suspect a scam, we should end the communication immediately.

We should not continue the conversation or try to prove to the fraudster that we know what they are doing. The longer the interaction continues, the greater the opportunity for them to manipulate us.

We do not respond to additional messages, follow further instructions, or click any new links that may be sent to us.

Instead, we contact the organisation the caller or sender claims to represent, using its official contact details.

Before deleting a suspicious message or closing a website, we keep any information that may help with an investigation.

For example:

• screenshots;
• the sender's email address;
• the telephone number;
• the date and time of the communication;
• Transaction details; and
• the content of the message.

This information may assist our bank or the relevant authorities in investigating the incident.

If we have already clicked on a suspicious link or shared personal information, we should act without delay.

Depending on the situation, we may need to:

• Request that our card be blocked or that our transactions be monitored.
• Change the passwords of any potentially affected accounts.
• Enable two-factor authentication (2FA) wherever available.
• Check for unfamiliar or unauthorized logins to our accounts.
• Sign out any devices that we do not recognize.

If we use the same password for other accounts or services, we change those passwords as well to reduce the risk of further compromise.

⚠️ Important: If we have shared a one-time password (OTP) or authorised a transaction that we do not recognise, we contact our bank immediately. We δο not wait to see whether a problem develops.

💡 Example:

Eleni receives a telephone call from someone claiming to be from her bank. The caller asks her to confirm a one-time password (OTP) in order to cancel a suspicious transaction.

Instead of providing the code, she ends the call and contacts the bank herself using its official telephone number. As a result, she successfully avoids the scam.

If we installed a programme or opened a suspicious attachment, malicious software may have been installed on our device.

In this case, we:

• run a scan using trusted security software;
• install the latest security updates; and
• avoid carrying out banking transactions until we are confident that our device is secure.

Many people feel embarrassed, ashamed or guilty when they believe they have been scammed.

In reality, fraudsters deliberately rely on these emotions. They use pressure, deception, and psychological manipulation techniques that can affect anyone.

Rather than blaming ourselves, we focus on the practical steps that can limit the damage and help us stay protected.

We speak to someone we trust and, where necessary, seek assistance from our bank or the relevant authorities.

Even if the scam was unsuccessful or did not result in financial loss, it is important to report it.

Depending on the circumstances, we inform:

• our bank;
• the Cyprus Police*;
• the Cyprus Securities and Exchange Commission (CySEC), in cases involving investment fraud; or
• other relevant authorities.

Timely reporting can help prevent further scams and protect others from harm. It is a responsible action that contributes to the collective protection of the public.

☞ * For reporting and obtaining information about electronic, telephone, or online scams in Cyprus, we can contact the Cybercrime Sub-Directorate of the Cyprus Police directly through CyberAlert.CY.

• Telephone: +357 22808200 (daily from 07:00 to 19:00, including weekends and public holidays)
• Email: cybercrime@police.gov.cy
• Citizen's Hotline: 1460 (for anonymous reporting)

For online reporting, we can use the official Electronic Crime Complaint Submission Form of the Republic of Cyprus.

✔️ We stop and assess the situation before taking any action.

✔️ We end communication immediately and contact the organisation ourselves through official channels.

✔️ We keep evidence such as screenshots, messages, and contact details.

✔️ We contact our bank immediately if personal or financial information may have been compromised.

✔️ We change our passwords, enable two-factor authentication (2FA), and check for unauthorized account access.

✔️ We check our device for possible malware.

✔️ We do not blame ourselves and seek help when needed.

✔️ We report every incident to the relevant authorities, even when no financial loss has occurred.

💡Remember:Acting quickly can significantly reduce the impact of a scam. The sooner we respond, the greater our chances of protecting our money, personal information, and others from similar fraudulent attempts.

👉 What’s next...

Protection against financial fraud becomes even more effective when we share our knowledge with those around us.

In the next article we will explore how to create a family protection plan and help vulnerable members of our family recognise and avoid potential scams.

🔗 Useful Links:

• Everyday Habits That Help Protect Us from Fraud
• Protecting Our Personal and Financial Information
• Recognising the Warning Signs of Fraud
• Understanding Financial Fraud