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Screenshot of a breaking news alert e-mail from Q2 2017
LeapRate Exclusive… LeapRate has learned that a police sting in Cyprus has led to the arrest of an employee of one of the Limassol-based retail FX brokers.
The employee – a 36-year old woman – was caught by police in Cyprus after a brief police ‘sting’ operation.
Cyprus police were contacted by a senior manager at the broker, after the manager became suspicious of the employee. The manager and the broker’s IT experts first checked the employee’s computer, and were able to conclude that the employee had copied certain client information onto a flash drive.
The broker then contacted police, who were able to determine (after quietly speaking with competitive firms in town) that the employee was trying to sell the client data she had copied to competitors.
Cyprus police then arranged for one of the competitive brokers, cooperating with the police, to offer €6,500 to buy the client list and data in question.
The ‘buyer’ arranged to meet the woman yesterday evening to make the exchange, at a popular local cafe in Limassol. Once money changed hands, the police swooped in to arrest her.
Cyprus police apparently stated that the woman had admitted to the act, and that she will be brought to court for arraignment shortly.
We will continue to follow this story as it develops. Stay tuned to LeapRate…