Revolut Issues Urgent Scam Alert to 12 Million Customers

Revolut has issued a crucial warning to its 12 million customers in the UK, urging them to take immediate action to protect themselves from potential fraud. The fintech company emphasizes a straightforward five-word message: “it’s a scam, no exceptions.” This alert is designed to bolster awareness among users about the risks of unsolicited calls from individuals pretending to represent the company.

The firm highlights the importance of verifying any communication purportedly from them. According to Revolut, customers should only receive calls through their secure app or via a pre-arranged telephone conversation initiated through the app’s chat feature. If anyone claims to be from Revolut and calls unexpectedly, it is likely a scam. The company advises, “hang up immediately and report it” through the in-app chat feature.

Revolut’s warning is part of a broader effort to combat rising fraud, which has significantly impacted UK residents. Reports indicate that fraud cost UK citizens over £136.2 million in 2023 alone. The company stresses that it will never request sensitive information during a phone call, reinforcing the need for customers to remain vigilant.

Innovative Safety Features

One customer recently praised Revolut’s proactive approach, sharing on X, formerly Twitter, a screenshot of their app. A red banner displayed during a call read: “Revolut is not calling you,” serving as a real-time alert against potential scams. The customer commented on the “excellent design detail” that helps users identify fraudulent calls while they are engaged in conversations.

The fintech industry is responding to the increasing threat of scams with innovative solutions. For instance, Nationwide has introduced a similar feature called Call Checker. This tool allows customers to confirm the authenticity of a call directly through the banking app. Users can navigate to “More” and then to “Call Checker” to instantly verify whether they are speaking with a representative from Nationwide.

Revolut’s commitment to fraud prevention is clear. By implementing such measures, the company aims to give “fraudsters no room to manoeuvre,” thus enhancing customer security and peace of mind. This ongoing battle against fraud highlights the importance of awareness and education in safeguarding personal finances.

As the landscape of financial technology evolves, the need for robust security measures becomes ever more pressing. Revolut and other fintech firms are leading the way in developing features that prioritize user safety and protect against fraud.