Crime & Safety · Cyprus

Two foreign nationals charged in €4 million Business Email Compromise fraud case.

4 sourcesFirst reported 16 days agoUpdated 15 days ago

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Greek police have filed charges against two foreign nationals for a €4 million email fraud scheme that targeted a prominent shipping executive.
The scam involved a Business Email Compromise (BEC) method and occurred in August 2025, resulting in the transfer of funds to a bank account in Bulgaria.
Cybercrime officers, in collaboration with Europol, managed to recover the stolen funds.
The case highlights the increasing incidents of sophisticated online fraud affecting the shipping industry.
Further investigations are ongoing as law enforcement continues to track the suspects involved in the scam.

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Greek authorities have charged two foreign nationals in connection with a significant email fraud scheme, known as Business Email Compromise (BEC), resulting in the theft of €4 million from a well-known shipping executive. The investigation, led by cybercrime officers and supported by Europol, revealed that the funds were transferred to a bank account belonging to a company based in Bulgaria, highlighting the international aspect of the crime.

The fraudulent activity was first reported in August 2025 when the victim noticed the unauthorized transaction. The police have since identified the suspects and developed a case against them, seeking to hold them accountable for their involvement in the elaborate scam. The operation falls under a growing trend of digital fraud targeting businesses, leveraging deceptive emails to manipulate financial transactions.

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Two foreign nationals charged in €4 million Business Email Compromise fraud case.

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