Retail Forex broker employee arrested in Cyprus trying to sell client data to competitors – LeapRate Exclusive

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…


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  • James R

    anybody know which broker????

  • Bob

    Why dont the cops focus on catching the bad drivers and issuing tickets to people who park on the path.

    This would be an more useful service, than protecting some bucket shop owner.

    • Bob

      I would not be surprised if the offended broker probably lifted the data from someone else.

  • Denis Borisovsky

    wow “Cyprus becomes secure place”)

  • Evan

    maybe the police should focus on the company who is requesting to hire employee with Portfolio (please don’t sell us database, just take it from your previous employer & come to work on it with us!). all company are requesting sales people with portfolio, they dont know how to generate lead by them self!

    • Bob

      !00% true. They all offer you a larger commission if you bring your own clients.
      Industry now is an utter joke. I long for the day of the retail cull of moribund brokerages.

  • Markos

    Who knows how many sales people have done or tried to do the same? Must be unaccountable!
    Is the employee female? If yes did she refuse to sleep with her manager or owner?
    Oh lala 🙂 The kebab shops of cyprus which are called brokers

  • kypselian

    I know for a fact that this broker had hired people in the past who promised to bring their clients from other companies! But when it almost happened to them they decided to get the police involved and send a woman to jail. I do not agree with her actions and believe she should have been fired. however the owners are Hypocrites..pure hypocrites!!!!

    • David

      which broker is it?

      • kypselian

        I would rather not say as to protect the identity of the employee

        • David

          Not sure that the person deserves to have her anonymity protected

          • kypselian

            yes he/she deserves

          • kypselian

            she does trust me

      • kypselian

        cant say

  • Vincent

    Everyone is doing it. Wake up people


Retail Forex broker employee arrested in Cyprus trying to sell client data to competitors - LeapRate Exclusive


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