The fintech firm SquaredFinancial announces the promotion of Chrysovalantis Karageorgiou to the position of Chief Operations Officer. With this appointment, Karageorgiou will spearhead critical departments including Back Office, Clients Accounting, Products, and Business Intelligence.

Experience and Expertise in the Financial Services Industry

Karageorgiou joined SquaredFinancial in June 2020, initially assuming the role of Head of Middle Office. His swift ascent to the position of Global Head of Operations underscores his expertise, sharp perspective, and initiative. During his tenure, he played a pivotal role in designing and implementing the company's systems infrastructure, operations, and customer support mechanisms, driving efficiency and elevating the standard of client experience.

Prior to his tenure at SquaredFinancial, Karageorgiou served as the Global Head of Support at PrimeXM, a foreign exchange technology provider. With twelve years of experience in the financial services industry, the new Chief Operations Officer brings a wealth of knowledge in implementing and managing cross-functional teams. He pursued his academic endeavors at The University of Sheffield where he obtained a Master of Engineering degree in Computer Systems Engineering.

Challenges and Strategies in Combating Financial Deceit

SquaredFinancial has reinforced its focus on transparency and combatting deceptive practices with the development of an advanced fraud prevention framework. In response to recent incidents of financial deceit within the trading industry, the company has bolstered its compliance and risk teams while enhancing processes and protocols to swiftly identify and address fraudulent activities.

A comprehensive approach to fraud prevention necessitates robust tools for conducting risk assessments, identifying vulnerabilities, and prioritizing mitigation strategies. Understanding common forms of fraud prevalent in the fintech sector, such as identity theft, phishing, web skimming, social engineering, and botnet attacks, underscores the importance of resilient IT infrastructure and a focus on cybersecurity.

In the forex brokerage industry, recurrent fraudulent activities orchestrated by networks or individuals exploit trading tactics and bonus schemes. SquaredFinancial's internal investigation in November 2023, prompted by deceitful actions from a specific partner, exemplifies the company's proactive stance. Utilizing internal analytical tools, irregularities were swiftly detected and intervention ensued, preventing further exploitation.