Financial Crime World

Banking Fraud Cases in Cyprus: Legal Services for Victims of Financial Crime

A Growing Concern Worldwide

Cyprus, a popular destination for financial services and investment, has recently seen a surge in banking fraud cases. According to recent reports, several individuals and companies have lost significant amounts of money due to fraudulent activities committed by banks, financial institutions, and investment firms. This issue is not limited to Cyprus alone, as similar incidents have been reported globally. Financial crime is a growing concern worldwide, with many victims unaware of the legal recourse available to them.

To combat this issue, a law firm in Cyprus has dedicated its Regulatory Advisory team to investigating and litigating financial fraud cases. The team works closely with their Litigation teams in Cyprus and the UK to provide legal services to victims of financial crime. Their expertise includes:

  • Filing regulatory claims and detailed reports to authorities such as:
    • Cyprus Securities and Exchange Commission (CySEC)
    • Financial Conduct Authority (FCA) of the UK
    • Central Bank
    • Unit for Combating Money Laundering (MOKAS)
  • Working with law enforcement agencies, including the Police

Notable Cases

The law firm has successfully represented clients in several notable cases:

  • A group action filed by 53 claimants against a Cypriot investment firm and its foreign shareholder resulted in a judgment by consent in favor of the clients.
  • An individual trader who lost over USD 1.8 million in FX trading with a world-known FX broker and market maker received a settlement in their favor.
  • The firm successfully obtained a tracing order and freezing order issued by the Nicosia District Court for a financial fraud committed through violation of internet banking.

Client Testimonials

The law firm has received praise from clients who have praised their expertise and experience in handling complex financial cases. One client testimonial noted:

“Their litigation team is one of the best in Cyprus, with a wide-range of knowledge and always able to think outside the box.”

Free Consultations Available

For victims of financial crime in Cyprus, it is essential to seek legal advice promptly. The law firm offers free consultations to discuss potential claims and provide guidance on the next steps.

Protecting Yourself from Fraudulent Activities

As banking fraud cases continue to rise in Cyprus, it is crucial that individuals and companies take action to protect themselves from fraudulent activities. With the expertise of this law firm, victims can rest assured that they have a strong legal advocate fighting for their rights.