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Cyprus Cooperative Bank Bid Warns Of Fake Share-Selling Websites

by THEFUTURE.TEAM

September 14, 2026

A company behind plans for a new cooperative bank in Cyprus has reported an attempted online scam to police after discovering fake websites and social media accounts targeting potential investors.

Fake Channels Target Prospective Investors

The Pancyprian Cooperative Society for Participation and Promotion of Cooperativism said unauthorized websites and profiles were posing as official sources of assistance for people seeking to buy shares in its ongoing offering.

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No individual, company or third party has been authorized to represent the group, mediate transactions or assist prospective members, it said.

Official Platforms Confirmed

Pancyprian Cooperative Society identified pccppc.cy as its only official corporate website. Membership applications and share purchases are handled exclusively through its dedicated share platform.

The warning comes as the company raises capital to establish a new cooperative credit institution in Cyprus. Its prospectus was approved by the Cyprus Securities and Exchange Commission on July 8, while the public offering opened July 22 and is scheduled to run until Nov. 17.

Capital Raise Underway

Up to 42 million new shares are being offered at a nominal value of €1 each, with a minimum online investment of €100.

Prospectus approval does not constitute an endorsement of the shares, and the proposed bank will still require the necessary licenses before beginning operations.

Public Urged To Verify Communications

Potential investors should avoid sharing personal or financial information through unofficial websites or social media accounts, the company said. Any communication should be verified through its official channels before a share purchase is made.

Support is available at 97913011, 97913012, 97913013 and 97913014, while potential investors are advised to use the company’s official channels for enquiries.

A police complaint followed the discovery of fake online material that the company said was designed to mislead and defraud people interested in the share offering.

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Cyprus Business Electricity Prices Rank Among The EU’s Highest

by THEFUTURE.TEAM

November 6, 2026

Electricity prices for a defined group of non-household consumers in Cyprus reached €0.23 per kilowatt-hour in the first half of 2026, placing the country among the most expensive in the EU, according to Eurostat.

The rate matched Italy and exceeded the EU average of €0.18. Ireland recorded the highest price at €0.27 per kilowatt-hour.

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The figures cover non-household consumers with annual electricity consumption of between 500 and 2,000 megawatt-hours, rather than all businesses or households.

EU Electricity Prices Continued To Fall

Across the EU, average prices for this consumer group declined by 2% compared with the second half of 2025 and were 5.4% lower year on year.

The lowest rates were recorded in Finland (€0.09 per kWh) and Sweden (€0.12), followed by Denmark, Spain and Portugal, all at €0.13.

Prices Fell In Most Member States

Electricity prices declined year on year in 19 EU countries during the first half of 2026. Luxembourg recorded the largest fall, at 23.8%, followed by Czechia (11.9%) and Greece (11.8%).

Prices increased in eight member states, led by Sweden (18.8%), Finland (18.7%) and Bulgaria (14.2%). Despite the sharp increases, Finland and Sweden continued to have the lowest electricity prices in the bloc.