Exclusive: MAP S.Platis Launches Forensic Unit Headed by Rakis Christoforou

Amidst a flurry of regulatory attention zeroing in on the financial services sector, Cypriot financial consultant, MAP S.Platis, has launched the MAP Financial Forensic Unit, headed by Rakis Christoforou.

MAP S.Platis deals with a variety of clients and leading firms across the FX realm in Cyprus, having recently procured a CySEC license for Plus500. With a litany of complaints and warnings targeting brokers and firms, the MAP Financial Forensic Unit aims to curb such illicit practice, fostering heightened transparency measures.

The man tasked to head the unit is Rakis Christoforou, a strongly qualified candidate who holds such credentials as a certification in Financial Forensics (CFF), member of the American Institute of Certified Public Accountants (AICPA), the Chartered Global Management Accountants (CGMA), the Institute of Certified Public Accountants of Cyprus (ICPAC), the Association of Certified Fraud Examiners, the UK Chartered Institute for Securities & Investment (CISI) and Accredited in Business Valuation (ABV).

According to Mr. Christoforou in a recent statement on the appointment, “The MAP S.Platis Financial Forensic Unit's objective is to provide support to the Financial Services sector, EU’s Regulatory Authorities and Government Bodies, as well as Law Firms and other interested third parties dealing with complex financial investigations. Our multidisciplinary team of experts leverages on the resources, knowledge and support of other specialized units within MAP S.Platis such as Compliance, Anti-Money Laundering Money Laundering Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Read this Term and Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term Support, IT Audit and Internal Audit to address a variety of complicated financial, commercial, accounting and IT issues.”