According to the reports of Cyprus police, a 36-year old woman was arrested for trying to sell users’ data to a competitor company. The woman, who remains unnamed, was a Cyprus forex company employee.
Apparently, she was reported to police by her own employee who noticed that she was copying data to a flash drive, which is not allowed. The criminal was planning to sell data for €6,500.
A policeman, disguised as a buyer approached the woman with an offer that she accepted. They met in a local café in order to do an exchange, and the woman was arrested immediately after receiving the money.
She immediately admitted the crime and will soon be brought to court, according to the CyprusMail.
Stolen Data Scams
Unfortunately, this is not an isolated case in binary industry. It is also showing that sometimes corrupt employees of honest brokers see an opportunity to make money with confidential data.
Once the data is sold, other brokers, that can be described as scams, are using it to contact traders and make lucrative offers in order to convince them to make a deposit. This is also a great breach of privacy and confidentiality among broker and trader. Such type of scam is a big issue, as it damages the reputation of an entire industry.
Binary options trading, just like any type of financial trading, is based on good relationship and trust between the broker and the trader. Cases like this are creating an atmosphere of mistrust and panic that is not justified.
The most famous case of using stolen data happened with NextOption scam broker. Find out more about NextOption scam.
Trade only with safe brokers, like Banc De Binary!