An office building in Limassol that houses multiple CFD brokers was the target of a shooting, likely in the early hours of yesterday (Wednesday). Finance Magnates understands that the target might not have been a brokerage despite its presence in the building.
Bullet Holes Are Clearly Visible
According to local reports, employees of the targeted office called the police after noticing damage to the building's facade caused by bullets. The bullet marks are also clearly visible from outside.
"The Police were notified at 8 in the morning that shots were possibly fired at a company’s offices in Zakaki," the Head of the Limassol TAE, Costas Michael, said in a statement to the local press. "It was found that the offices of a specific company have indeed been shot at, it appears that glass panels on the balcony were hit."
The police also confirmed that "the shots were fired at 4:20 in the morning, and at first glance, there were 2 perpetrators riding a motorcycle."
The commercial building, Santa Barbara Business Centre, houses multiple well-known CFD brokerage brands. The branding of one of the brokerage firms is even displayed on the building.
Why Are Gunmen Targeting Offices?
Similar shooting incidents have also occurred in Cyprus before. Last year, Finance Magnates reported that a masked gunman fired seven shots at the offices of an investment company in the Ayios Andreas area. The attack, which took place just after midnight, reportedly shattered a glass window while employees were inside.
A year earlier, a marketing agency in Limassol became the target of a gunman on a motorcycle, which also reportedly occurred shortly after midnight.
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Cyprus is the base for many CFD brokers, as the island has established itself as a gateway to mainland Europe for these companies. Brokers obtain a MiFID licence from the island's regulator and then passport it to operate across the European bloc.
Meanwhile, Paphos Mayor Phedonas Phedonos last year alleged that Cyprus had become part of an international money laundering network involving Latin American drug cartels. He also claimed that some forex firms based on the island were being used to launder drug money through complex shell company networks in Latin America.
Recently, local reports revealed that Cypriot authorities detained three individuals, including a police officer, as part of an investigation into an alleged criminal organisation linked to money laundering, tax evasion, and extortion targeting businesses such as forex firms.
