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AV-CASE-0417Broker fraudEU / Cyprus
Operation Halcyon
Recovered €4.2M for a client defrauded by a network of pseudo-brokers sharing one acquirer.
- Reference
- AV-CASE-0417
- Region
- EU / Cyprus
- Duration
- 11 mo.
- Related case
- €4.2M
Challenge
Seven brands funnelled into one platform. Withdrawals were blocked and funds had already passed through three acquirers in two jurisdictions.
Approach
We linked the brands through a shared payment descriptor, reconstructed the payment chain and filed coordinated disputes with regulatory pressure on the acquirers.
Outcome
96% recovered within 11 months. The file was handed to the relevant regulator.