Fraud and scams — Revolut

Have you been a victim of fraud?

If you believe you've made a transfer to a fraudster as part of a scam, or you suspect that your account has been subject to fraudulent activity, please: 1. End communication with the suspected scammer immediately (this could be via SMS, WhatsApp, phone call, email, or in person) 2. Contact the financial institution involved. If that's Revolut, follow the link above or contact us as soon as possible via the in-app chat support so that we can help secure your account 3. Report the incident to the police If you see card transactions on your account that you don't recognise or didn't authorise, please follow our instructions on how to make a chargeback.

About fraud

Criminals are using increasingly sophisticated techniques to steal money. As fraudsters and scammers get smarter, it becomes harder for customers to identify them, and the risk of being misled increases. We constantly review our fraud and scam prevention systems, developing and deploying new solutions to counter the latest techniques and protect our customers. You, our customers, also have an important part to play in preventing fraud. This page outlines what to do if you suspect you’ve been targeted by fraudsters. It also includes information on the latest scam and fraud techniques, how to protect yourself, and details of how Revolut protects you.

Fraud and scams explained

  • Fraud

    This is usually when criminals use techniques to obtain your account or card details, and use those details to make transactions without your knowledge.

  • Scams

    These are usually when criminals trick you into making a transaction you suspect to be real, and is instead to them. This typically comes from them pretending to be someone they're not.

Latest fraud and scam techniques

Criminals are using sophisticated techniques to trick people and steal their hard earned money. Here's a list of some, but not all, of the fraud and scam techniques criminals are deploying:

Authorised push payment (APP) fraud or bank transfer scams
APP fraud is when criminals trick you or use persuasion to get you to transfer money to another account. APP fraud has increased dramatically in recent years. The most common forms are:
  • Investment scams, when criminals convince their victims to move their money to a fake fund or to pay for a fictitious investment
  • Charity scams, when scammers will take advantage of your kind spirit and get you to donate to a cause you care about — but the funds go straight to them
  • Romance scams, when criminals claim to be romantically interested in you and take advantage of your emotions to convince you to send them your money
  • Impersonation scams, when scammers pretend to be from an organisation such as a bank, utility company, or tax authority. They might tell you there's something urgently wrong, and that you need to move your money. Often they’ll emphasise that they need it quickly, or that there's a time limit
Card fraud
Card fraud is when criminals use stolen debit or credit card details to steal your money. There are several types of card fraud. The most common forms are:
  • Remote purchase or card not present (CNP) fraud, when criminals use stolen card details to purchase items online, or over the phone or through mail
  • Lost and stolen card fraud, when criminals use a lost or stolen card to make purchases or take cash out at ATMs
  • Card ID theft or account takeover (ATO) fraud, when criminals use stolen card details and personal information to open or take over a card account held in someone else’s name
Remote support or installation of software fraud
This type of fraud occurs when criminals ask you to download software, usually in the form of a mobile or desktop app. This app typically allows criminals to see your screen or take over your mouse to gain access to your online or in-app account and transfer money. Fraudsters often use remote access software applications to gain control of your banking and finance applications.

Delivery fee or customs fraud
Scammers know how popular shopping online is, and that we usually have important deliveries on the way. They’ll text you and pretend a parcel is stuck in customs, or pretend a delivery has failed, to persuade you to provide important personal information.

CEO fraud
Businesses can also be victims of fraud. CEO fraud is an increasingly popular means for criminals to persuade businesses to illicitly transfer funds. Scammers impersonate the CEO or other senior business leaders of your organisation and convince victims to make payments, again, often stating they need it urgently.

How we protect you

With the rapid development of sophisticated new scams, Revolut is quickly crafting new solutions to counter the latest fraud and scam technology.

Here are just some of the ways Revolut detects or prevents fraudsters from getting your money:
  • To make sure we know it’s you, customers accessing Revolut via the mobile app are asked to provide either a PIN, Passcode, or Biometrics (i.e. fingerprint or facial recognition) and an SMS one-time-passcode whenever required
  • Customers sending money with Revolut via the desktop app are taken through authentication by sending a notification to the mobile app. Then the customer confirms the login request via the mobile app, before the payment can proceed
  • When making online purchases, if transaction verification is requested by the merchant, we send you a notification, which asks you to open the app and confirm the request before the payment can proceed
  • When sending funds to a new recipient, we’ll ask you to confirm that you know and trust the intended recipient of the funds before the transaction can proceed. If we detect that the payment may be a scam, we’ll provide in-app warnings, which you should never ignore
  • We also offer unique features like virtual disposable cards (single-use time virtual cards can be used to shop online — and once you’ve paid, the details are deleted so they can’t be skimmed or re-used by criminals)
  • We offer in-app review of transactions, and the ability to instantly freeze suspicious transactions and the card associated with them (which customers can instantly unfreeze if they find that it's safe, rather than order a new card)
  • Remember that Revolut will never contact you over the telephone without verifying ourselves first
  • Carefully review the alerts and information we give you when the automated security system identifies suspicious fraudulent activity. Take your time to consider the situation before making a decision, and consult with us if you’re in doubt

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