A man who had £165,000 stolen from his Revolut business account by fraudsters has told BBC Panorama he believes the company’s security measures failed to prevent the theft. He says criminals managed to bypass the ID verification process to gain access to his account. So far, Revolut has refused to refund this money. The BBC has found that Revolut was named in more reports of fraud in the last financial year than any of the major High Street banks. The e-money firm - which has not yet been granted full status as a bank - says it takes fraud incredibly seriously and that it has “robust controls” to meet its legal and regulatory obligations.

Source: The Times October 15, 2024 01:53 UTC