BDSwiss employee data breach: What really happened?

Official authorities are currently investigating if any client data of BDSwiss has been compromised. What happened and is there really a BDSwiss employee data breach? 

16 September, AtoZForex – According to sources, BDSwiss employee data breach took place as some data files have been obtained through the stolen laptop. BDSwiss is a forex and binary options broker. The company offers different types of trading software and tools making it possible for both individuals and institutional clients to trade Forex, CFDs, and Binary Options online. The firm belongs to BDSwiss Holding Plc. and is regulated by Cyprus Securities and Exchange Commission (CySEC).

Was the broker’s data leaked or not?

Referring to the information retrieved, it has been indicated that only personal was compromised. Therefore, no connection to the database of the company. According to sources, the issue has been reported to the official authorities and three jurisdictions have already begun the investigations.

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July case of data violation

Unrelated to the case of BDSwiss, in the end of July, a female working for one the Cyprus brokerages got arrested as she attempted to sell company’s customer data. The reports mentioned that the management team of the company noticed that the employee downloaded data to an external flash drive. They considered it as a risk and reported it to official authorities. The authorities pretended to be a competitor and offered the lady 6.000 euros for the information. The women met the authorities and after was arrested.

The security and safety of customer data are essential for forex brokers and any risk of data breach poses a threat to the company. Otherwise, the client loses trust in the brokerage and might switch to another company.

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