New scam scheme: how a mobile app can drain all the money from your account

The Cyprus Police are investigating a cyberfraud case in which €2,992 was stolen from the account of an island resident. The scammers used a scheme of social engineering combined with technical deception.

The victim received a phone call from a woman who spoke English with an Asian accent and introduced herself as an employee of an official platform for financial transactions and online payments. Under the pretext of checking the account’s security, the caller persuaded the victim to install a special mobile application on her smartphone. As soon as the program was downloaded, the criminals gained full remote access to the victim’s device and online banking, after which they promptly transferred about €3,000 from the accounts. The police strongly urge citizens to remain vigilant and remind them that providing third parties with access to their electronic devices and personal banking accounts is strictly prohibited.