A Limassol-based company has experienced a significant financial loss after being tricked by online cheats, according to police reports. The duped company had placed a substantial meat order with a supposed Chilean supplier, which resulted in the loss of almost €46,000. The company’s 68-year-old owner alerted the police to the scam on Friday. After making the payment for the order, the meat failed to arrive, and the Chilean company ceased all communication, leading the owner to realize he had been victim to a scam. The Limassol CID, in cooperation with Interpol, is now investigating the case. They have discovered the funds were transferred to an unknown account and are working to identify those involved in this fraudulent operation.
The EURUSD currency pair remains in a tight range above the 1.0900 support level on Monday as it struggles for direction. Investors seek fresh cues at the start of a busy data week, which may indicate how much the Federal Reserve will cut interest rates in September.
