The immediate mobilization of the Cyber Crime Division, in cooperation with the competent Authorities and banking institutions, led to the full recovery of 4,000,000 euros that had been siphoned off through a Business Email Compromise (BEC) type online scam, while a case file was formed against two foreign nationals alleged to be involved in the case.
According to the Hellenic Police, two foreign nationals were identified in connection with the case. These are the legal entity that appeared as the beneficiary of the bank account where the scam money ended up, as well as the individual alleged to have managed the specific account.
A case file was formed against them for the respective offenses of computer fraud of particularly high value and illegal access to an information system or data.
They illegally accessed the company's email correspondence
The investigation began after a complaint was filed in August 2025 by a representative of a Greek shipping company.
As emerged from the preliminary investigation, unknown perpetrators gained illegal access to the email correspondence between the company and a cooperating foreign banking institution. They then used a deceptive email address resembling the corporate one, as well as forged payment orders, managing to transfer 4,000,000 euros to a bank account of a company based in Bulgaria.
Through immediate and coordinated actions by the Cyber Crime Division, in cooperation with the Anti-Money Laundering Authority, the International Police Cooperation Directorate (Europol Department), and the involved banking institutions, the temporary freezing of the funds was initially achieved.
This was followed by the full recovery of the entire amount before it could be split up and transferred to other accounts, thus preventing its permanent loss.
What are Business Email Compromise (BEC) scams
Business Email Compromise (BEC) scams are internationally among the most widespread and dangerous forms of cyber fraud against businesses.
Perpetrators gain access to or create email addresses that resemble real corporate ones, monitor communications between businesses for a long period, and intervene in critical financial transactions, modifying bank account details so that the money ends up in accounts they control.
Timely reporting saved the money
The Hellenic Police points out that this particular case highlights the importance of immediately reporting incidents of online fraud. Timely notification of the competent Authorities and banking institutions proved crucial, as it allowed for the recovery of the entire amount of 4 million euros and the identification of those involved.
The case file has already been submitted to the competent prosecutorial Authority.
Source: ERT