Cyprus ranks among countries hosting call centres for a vast international online fraud network, according to major OCCRP investigation.
The network operated at least 81 fake investment platforms posing as independent brokers but forming a single scam mechanism.
Scam operations
Platforms promised quick profits from forex, cryptocurrencies, gold, oil, targeting novice investors with “personal analysts,” advice, and sign-up bonuses.
In reality, thousands worldwide lost nearly all their money. Same teams, files, call centres – in Cyprus, Israel, Bulgaria, Spain – ran all platforms.
Fake credentials
Most claimed bases in Switzerland, Canada, UK, but addresses proved fictitious. Dozens flagged or blacklisted by regulators; many unlicensed or falsely licensed.
When complaints shut one “brand,” another quickly replaced it. Investigation spotlights Cyprus’s key role in the network’s footprint, raising oversight issues for online financial scams.
Read the OCCRP article here.
Also read: €1.2M cyber fraud hits Limassol firm
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