The landscape of crime is undergoing a rapid transformation, with digital fraud now overshadowing traditional forms of theft. From deceptive messages to AI-enhanced scams, citizens are being urged to remain vigilant as criminals find new ways to infiltrate daily financial activities.
Criminal activity is moving decisively from the physical world to the digital sphere, with significant sums being extracted from unsuspecting citizens. While older generations remain particularly vulnerable due to limited familiarity with technology, younger people are also increasingly caught in online schemes.
The consequences of digital fraud can be severe, ranging from compromised personal data to the loss of assets such as funds held in bank accounts.
Common tactics
Scammers are employing a growing variety of methods. One of the most frequent involves calls or text messages asking individuals to provide security codes under the guise of resolving technical issues with bank accounts, package deliveries or outstanding fines. Banks and public authorities never request such codes, which should only be used during secure login processes.
A newer trend involves tricking people into paying small amounts for supposed parcel deliveries, as well as approaching citizens during routine transactions such as payments related to the national health system, social insurance or taxes.
At the same time, fraudsters are increasingly turning to sophisticated technological tools, including artificial intelligence, to deceive their targets.
“The shift from physical to digital crime is real. As banks, we continue to strengthen our detection and prevention mechanisms,” said Andreas Koustouris, Communications Officer at the Association of Cyprus Banks.
He added that the sector is coordinating awareness campaigns with organisations such as the Digital Security Authority and the Cyprus Police.
“We firmly believe in educating and informing the public, which is why we continuously produce and circulate material. Most mistakes are unfortunately human, and that is exactly what criminals try to exploit to access our personal information,” he noted.
According to Koustouris, knowledge, composure and vigilance remain the strongest safeguards against online fraud. Building digital resilience and improving financial literacy are key defences against emerging forms of deception.