The European Central Bank warns that letters, emails and fake websites inviting the public to invest in a supposed digital euro pilot are circulating, and that they are a scam. The ECB never asks the public for investments, money or personal details. The digital euro has not been issued, and the real pilot is a 12-month test with selected payment providers, merchants and central bank staff, planned for the second half of 2027. Anyone who suspects they have been defrauded is advised to contact the police.

What it means: Fraudsters always exploit whatever is in the news, and the digital euro, with the legislative process under way and frequent announcements about the pilot, is ideal bait. The word pilot sounds official and exclusive, and invoking the ECB lends false credibility. The key message is simple: the digital euro, if issued, will be a form of money like banknotes, not an investment product with a return. There is no way to buy a place in it, and no central bank sends letters to individuals asking for money. In Greece, where scams by phone, text message and fake bank websites are already common, banks and the Bank of Greece have a role in warning customers early, especially older people. Businesses and accounting offices should tell staff that such messages may also reach company email, with fake logos of European institutions. Anyone who has already sent money should contact their bank immediately and report it to the Hellenic Police Cyber Crime Division.

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