Financial Crime World

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Financial Crime Investigation Procedures in Cyprus Under Scrutiny as Investigations Intensify

Financial crime is becoming an increasingly significant concern globally, with financial institutions, investment firms, and their directors and officers facing mounting pressure to account for their actions. In Cyprus, regulatory bodies are taking a closer look at financial crime investigation procedures, seeking to hold those responsible for fraudulent or negligent wrongdoing accountable.

Cyprus-Based Financial Institutions Implicated in Financial Misconduct

Cyprus-based financial institutions, including banks, financial services companies, investment firms, forex brokers, and dealers, as well as portfolio managers and market makers, have all been implicated in financial misconduct. The consequences can be devastating for investors, who may find themselves facing significant financial losses due to regulatory violations or fraudulent activities.

[Law Firm]’s Expertise in Financial Crime Investigations

A team of experts at [Law Firm] has been at the forefront of financial crime investigations in Cyprus, working closely with regulatory bodies such as CySEC, the Central Bank, MOKAS, and the Police. The firm’s FS Regulatory advisory team, in cooperation with its litigation department, has developed a unique expertise in handling complex financial crime cases, acting for and defending investors whose money has been lost or diluted due to fraudulent or negligent activities.

Notable Cases

  • Represented major banks in Cyprus, including Bank of Cyprus PLC, Hellenic Bank PLC, and Alpha Bank (Cyprus) Ltd.
  • Successfully defended individual traders who have suffered significant losses in FX trading with leading market makers.
  • Filed a class action against an investment broker regulated by CySEC, FCA, and other regulatory bodies, alleging fraud and regulatory misconduct resulting in losses of over EUR 2 million for the investors. The court granted a freezing injunction (Mareva) against the defendant’s bank accounts, allowing [Law Firm] to recover assets on behalf of its clients.
  • Obtained a tracing order and freezing order from the Nicosia District Court in relation to a financial fraud committed through internet banking, assisting Cyprus MOKAS (Unit for Combating Money Laundering) and Scotland Yard during criminal investigations.

Expert Advice and Representation

As financial crime continues to pose a significant threat to investors and regulatory bodies alike, [Law Firm] remains committed to providing expert advice and representation to those affected by such misconduct. For more information on how the firm can assist with financial crime investigation procedures in Cyprus, please contact us now.