Exclusive: Reports of Police Raid on Cyprus Call Center

Authorities in Cyprus are believed to have raided at least one unregulated call center Call Center In general, a call center is defined as an office equipped with the technology and hardware to handle and process a large volume of incoming or outgoing phone calls. Call Centers today have expanded from simple telecommunication to all forms of communication, including online customer support and live chat features and the use of VOIP, including video calls. Initially, call centers were designed for selling or taking orders and for customer support. Call centers of yesterday were the precursor o In general, a call center is defined as an office equipped with the technology and hardware to handle and process a large volume of incoming or outgoing phone calls. Call Centers today have expanded from simple telecommunication to all forms of communication, including online customer support and live chat features and the use of VOIP, including video calls. Initially, call centers were designed for selling or taking orders and for customer support. Call centers of yesterday were the precursor o Read this Term on Monday, multiple sources confirmed to Finance Magnates.

Details of the raid are yet to be officially confirmed. However, it is understood that the call centers were unregulated and targeting people with possible fraudulent investment schemes. The identity of the operation involved is, at this stage, yet to be disclosed, and it has been speculated that there have been at least two arrests made.

In addition, it is not clear if the raid was conducted by the local Cyprus police alone or with the collaboration of international agencies. However, sources told Finance Magnates that these call centers may have had a strong international presence, possibly in Australia, Germany and/or Canada.

A Hub for Brokers and Affiliates; Also Scams?

Cyprus is one of the most sought-after jurisdictions for forex brokers and affiliates Affiliates Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Read this Term who want to tap the European markets. The low entry barrier for obtaining a financial services regulatory license on the Mediterranean island has made it popular over other jurisdictions within the European Union.

The bust of fraudulent financial services selling tactics with call center operations, commonly known as boiler rooms, was also prevalent in Cyprus. Last October, authorities cracked down on massive forex and crypto investment scams that also led to arrests in Cyprus.

However, such organized scams are not just located in Cyprus. There have been a growing number of police raids on unregulated forex, binary options and crypto operations worldwide. Recently, the authorities in Moldova detained 24 people for running a forex investment scam and receiving deposits of more than €1.5 million. In Thailand too, the police arrested two dozen Chinese and Thai nationals for running forex scams.

Finance Magnates will update once further details are known.