The FSB showed footage of the detention of the heads of a Cypriot brokerage company

On June 15, the Public Relations Center of the Federal Security Service (FSB) of Russia published footage of the detention of the heads of a Cyprus brokerage company in a fraud case.

Searches were conducted at the places of residence and offices of the defendants in Moscow and St. Petersburg. FSB officers seized communications equipment, documents, seals, as well as digital media with crypto wallets and cash.

Alexander Chemersky, a veteran of security agencies, said that for the effective work of special services in the field of financial security, the FSB conducts constant monitoring of financial markets and brokerage activity.

"Intelligence agencies conduct in-depth analysis of financial markets, study the typology of crimes and monitor new methods of fraud. This includes, among other things, the study of securities used for fictitious transactions," Chemersky said.

According to the expert, artificial intelligence and machine learning are also used for these tasks. Chemersky stressed that the right balance of analytical work, information technology and operational methods contributes to maximum efficiency in the work of the authorities.

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Earlier in the day, the FSB Central Control Center announced the detention of the heads of the Cyprus brokerage company Mind Money Limited and their accomplices in the case of fraud involving shares of Russian companies worth more than 7 billion rubles. Three of them are in custody and two are under house arrest in the case of the exchange of frozen American depositary receipts for shares of Russian companies. The FSB Investigative Department has opened a criminal case under Part 4 of Article 159 ("Fraud on an especially large scale") of the Criminal Code of Russia.