Phaidonos: Forex warnings confirmed

The Mayor of Paphos, Phaidonas Phaidonos, reiterated his concerns about the risks associated with certain Forex companies and their practices. He recalled that he had expressed his concerns four months ago, despite the attacks he received at the time.

Phaidonos referred to excessive enrichment and lack of regulatory control, which can attract criminal groups. He linked the recent incident of violence in Limassol to the risks of money laundering.

He stressed the obligation of those in charge to speak out in a timely manner about such risks and reiterated his recommendation for stricter controls and transparency. He stated that he will continue to defend the public interest.