Brokerage Employee Arrested for Trying to Sell Client Data: Cyprus Mail

Cypriot newspaper Cyprus Mail is reporting that a female brokerage employee aged 36 has been detained by the police in Limassol after trying to sell proprietary customer information to a third party.

The management team of the brokerage identified the prospective risks after spotting that the employee copied the data to an external flash drive. The company informed authorities, which staged an Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term with the employee, promising to pay her €6,500.

A meeting was arranged in a cafeteria in Limassol, where the envelope with the money was handed to the suspect. The employee was detained by police after the exchange and is currently facing a trial. The individual admitted to the crime yesterday after the detention.

Brokers are normally very vigilant about their data and protect their clients' information vigorously. No further information about the identity of the brokerage has been provided by the newspaper.

The safeguarding of client data at online companies is a very big risk for online businesses. However in the case of the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term industry, certain vulnerabilities which are not related to hacking have been an additional risk. Having appropriate systems to detect data access by employees is crucial to successfully preventing the information of clients.