Romanian Police arrested 3 Forex personnel selling client data


Romanian Police arrested 3 Forex personnel selling client data. So, who are these Romanian Forex Broker personnel? Which Forex Broker’s employee did the Romanian police arrest?

21 July, AtoZForex Romania’s Directorate for Investigating Organized Crime and Terrorism (DIICOT) has reported that they have detained three individuals, namely Iliescu Stefan Virgil, Roşoiu Darie Leone, and Vîlceanu Ionut. The DIICOT has informed these three individuals tried to sell stolen client data from a CySEC regulated Forex entity.

Romanian Police arrested 3 Forex personnel selling client data

DIICOT has arrested three individuals who attempted to sell sensitive information stolen from a Cyprus based brokerage. They tried to sell the information for as much as €80,000.

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Reportedly, criminals have planned their activities earlier this year. They intended to hack a data cache of a Forex entity  and steal their information from its CRM database management platform. The stolen data included numerous sensitive disclosures. More specifically, the criminals have stolen the information about clients’ names, addresses, emails, telephone numbers and the like. DIICOT has spotted the deal for the sale of this information.

Iliescu Ştefan Virgil has the access to Cyprus Forex brokerage's resources

Following the theft of the data, AtoZForex learned that Iliescu Ştefan Virgil had a connection to the broker, a social trading platform located in Limassol, Cyprus. He had claimed to be an employee (member) of the firm. His access to the company’s resources made the theft of most of the data possible. This includes the data about a number of foreign clients, mainly Russian.

After the individuals have illegally acquired the information, they commenced the negotiations to sell the data. Reportedly, they wanted €80,000 for 9,000 traders' data.

CRM platform data compromised

Meanwhile, other activities were performed in an attempt to obtain a big cache of computer data and transfer it to an unknown segment of potential suitors earlier this year. Reportedly, these actions took place in the period between January and April 2017.

All of the illegal actions were possible thanks to the stolen CRM data. Since almost every brokerage house rely on their CRM to keep their client data, the stolen data gave these individuals leverage to negotiate.

Iliescu Stefan Virgil has disclosed some of the client information during the negotiation period to an unknown audience. He also revealed the sensitive information to Roşoiu Darie Leone, and Vîlceanu Ionut. Evidence on these activities appeared in July 2017, when a potential client of the brokerage (Limassol based Romania rooted Social trading platform) was contacted. DIICOT has refused to provide further information about the background of this individual.

Part of information was eventually sold

DIICOT has reported that a number of phone calls also contributed to the restraining the sale of the data. After numerous meetings in Bucharest between Roşoiu Darie Leone, Vîlceanu Ionut, and other potential buyers, the DIICOT became aware of the illegal activity. Consequently, Romanian Police arrested 3 Forex personnel selling client data.

In spite of DIICOT’s efforts to bring the individuals into custody, some part of the data appeared sold. The piece of data includes 2,200 contacts and confidential data. It was sold for a sum of €13.800, which was paid to the three individuals.

Reportedly, Iliescu Stefan Virgil, Roşoiu Darie Leone, and Vîlceanu Ionut will be held for a period of 30 days in custody. This is before to their submission to a Bucharest-based Tribunal, where they will face further action.

Forex broker employee arrest in 2016

Romanian Police arresting 3 Forex personnel selling client data appears exactly a year after a similar incident in Cyprus. In July 2016, AtoZForex reported about a Forex Broker employee being arrested by the Cyprus police while selling her broker's client data.

We then broke the news source that two  brokers employees involved in an attempt to sell BCFX broker data. The suspect appeared to have the urge to make quick EUR 6,000, thus she came all prepared with a USB full of data inside and she received EUR 6,000 in return. It did not last long before the suspect was busted by the police. She appeared to have admitted her crime.

In Romania Police case, we have the details of the broker who fell a victim of the case. However, we prefer not to share the identity for now in order not to cause damage to already shaken entity.

Think we missed something? Let us know in the comments section below.

  1. 3x3 says:

    Iliescu Stefan Virgil is the son of a high ranked political police colonel, before 1989. His father used to work for the infamous "Securitate" political militia, putting microphones and micro surveillance devices in the houses of political dissidents who were then arrested, put to jail and tortured by the militia, due to their opposition to the Ceausescu's regime. He also has a brother, Iliescu Victor who used to work for one of Renault's main dealers in Romania, called IPSO. Seemingly, he was fired from there and he was forced to leave the company on a shameful backdoor due to his financial misdoings.

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