Fraud squad probes £120,000 losses

By a Staff Reporter

THE police financial fraud unit are investigating a case of alleged misappropriation of funds at a Co-operative Bank branch in Paphos. According to CyBC last night, the sum of £120,000 has been misappropriated. The losses came to light when a number of clients tried to withdraw sums of money from their accounts but were unable to do so.

Financial fraud officers were called in and Co-op Bank employees were questioned.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.