Protecting Your Business: A Guide to the Top Phishing Scams Cyprus SMEs Face in 2025
The digital threat landscape in the Eastern Mediterranean has shifted. It is no longer about generic spam folders; it is about highly targeted, localized attacks designed to bypass the defenses of small and medium enterprises (SMEs).
If you are a business owner or IT manager, understanding the top phishing scams Cyprus companies are currently battling is the only way to safeguard your assets. In 2024–2025, attackers have focused on impersonating the most trusted institutions on the island: the Cyprus Post, major local banks, and the Tax Department.
Below is a detailed breakdown of these threats, including what to look for and how to react.
1. The “Cyprus Post” Customs Fee Scam
This is currently the most widespread campaign affecting local businesses. It specifically targets administrative staff who manage inventory or office supplies.
The Scam: You receive an email or SMS stating a package is held at customs and requires a small fee (e.g., €1.99 or €2.99) to be released.
The Goal: To steal corporate credit card details.
Key Red Flags:
The URL: Legitimate links from the Cyprus Post will always use the domain cypruspost.post. Be wary of .com, .net, or hyphenated variations like cyprus-post-delivery.com.
Payment Requests: The Cyprus Post does not request credit card payments via unsolicited links.
Official Resource: Read the Cyprus Post Spam Alert for the latest examples of these messages.
2. The Banking “Account Freeze” (Bank of Cyprus / Hellenic Bank)
Financial institutions are a primary target for the top phishing scams Cyprus hackers deploy. These attacks often start with an SMS (Smishing) that leads to a convincing fake website.
The Scam: The message claims your business account has been “restricted” or “suspended” due to unusual activity. You are urged to “verify your identity” immediately.
The Goal: To harvest your e-banking credentials and One-Time Passwords (OTP).
Key Red Flags:
Generic Greetings: Phishing emails often use “Dear Customer” instead of your actual name.
Urgency: Any message demanding action “within 24 hours” is likely a scam.
With the transition to the new Tax For All (TFA) system, criminals are exploiting users’ unfamiliarity with the new interface.
The Scam: An email claiming you are eligible for a tax refund (e.g., €450) or that you have a pending penalty. It often asks you to scan a QR code or click a link to “claim” the funds.
The Goal: To steal banking (IBAN) and login information.
Key Red Flags:
The Domain: The only legitimate email sender for tax matters is @tax.mof.gov.cy.
QR Codes: The Tax Department will rarely, if ever, ask you to scan a QR code in an email to receive money.
4. Invoice Fraud (Business Email Compromise)
This is the most financially damaging of the top phishing scams Cyprus businesses encounter. It is not a mass email; it is a targeted attack on your accounts payable department.
The Scam: Hackers compromise a supplier’s email account (or spoof it closely) and send a legitimate-looking invoice. The catch? They claim their bank account details have changed and ask you to wire payment to a new IBAN (often at a digital bank like Revolut or a foreign entity).
The Goal: Diversion of large invoice payments.
Actionable Advice for SMEs:
Verify by Voice: If a supplier changes their IBAN, call them on a trusted number (not the one in the email) to confirm.
Employee Training: Ensure your staff is aware of these specific templates.
By staying informed about the top phishing scams Cyprus is facing, you turn your workforce from a vulnerability into your first line of defense.
About ACE Networks
As a premier technology partner in the Eastern Mediterranean, ACE Networks is dedicated to empowering businesses with resilient, future-ready IT infrastructure. We specialize in transforming complex digital challenges into streamlined opportunities, offering a comprehensive suite of services ranging from cloud migration to managed IT services. Our certified experts work proactively to safeguard your digital assets, deploying advanced defense strategies to counter evolving threats such as the top phishing scams Cyprus businesses face today. Whether you need to secure your data or modernize your workforce with cloud solutions, ACE Networks delivers the local expertise and global standards necessary to keep your enterprise ahead of the curve.
