Are Celebrities Investing? Cypriot Police Warns of Investment Scams

Recently, Cyprus has seen a number of investment scams promising profits that claim the participation of famous people. Local police issued a warning against these investment traps.

According to police, scammers post fake photos and videos on social media platforms, falsely claiming or posing as celebrities to encourage the public to participate in investment activities, but only intended to deceive investors.

The police said, “The purpose of the fraudsters is to extract money from citizens through the false investment activities that are advertised.”

The Cypriot authorities advise the public not to interact with these posts and not to carry out transactions with them. Those with investment plans should conduct their transactions through legally registered and licensed financial institutions and advisers.