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Watchdog investigated claims from viewers that Revolut is not doing enough to protect its customers from scammers. We contacted Revolut and it said:

Revolut told us that it is sorry to hear of Mr Bennet’s case and any instance where it’s customers have been targeted by ruthless and sophisticated criminals. It said each potential fraud case concerning a Revolut customer is carefully investigated and assessed independently of other cases.

In Mr Bennet’s case Revolut told ±«Óãtv Watchdog that the 23 minute delay in freezing his account was down to identity verification checks being carried out before the account was frozen. It has concluded it will not refund Mr Bennet for his losses.
It said it takes a data-driven approach to identify scam activity and use sophisticated fraud modelling for both inbound and outbound transactions to protect Revolut customers from falling victim to fraud. It added it constantly strengthens it’s fraud controls to stay one step ahead of new trends, including direct interventions and the sharing of educational materials with customers so they are able to spot the social engineering tactics of criminals. Revolut has told ±«Óãtv Watchdog, it will never phone you without first confirming via it’s secure in-app chat.

The company is aware that across the industry there has been an increase in advanced Account Takeover (ATO) scam attempts by criminals and it’s said it’s deeply concerned that large numbers of frauds are being enabled by criminals using fake and spoofed phone calls and SMS messages. It encourages people to be vigilant and to look out for the following:

• Never share your password, passcode, PIN, selfie, or one-time passcode (OTP) with anyone else, even if they claim to be from Revolut or another financial institution.
• If you receive an email asking you to confirm your device, when you haven’t added one or don’t recognise it, please ignore it and flag it as spam.
• Don't click on any links or buttons in an email like this, or forward it to anyone else.
• Never download remote access software to your device.
• Scammers will send fake emails asking for these things, or use your email address to fail a login attempt, so they can contact you imitating a financial institution, pretending to help ‘secure your account’.

Revolut said if you think you have fallen victim to a scam, it advises advise you to freeze your cards immediately. It requested you also update your Revolut passcode as well as any personal email account passwords, and contact Revolut customer support via it’s secure in-app chat.
Finally it told us it’s investigation into Mr Lockley’s case remains ongoing and therefore we are unable to comment.

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