Revolut has been under fire as fraud complaints piled up in 2024, but the company has insisted it saved hundreds of millions in “potential fraudulent transfers.”
Cryptocurrency-friendly neobank Revolut said it has prevented millions of dollars in potential customer losses from fraudulent crypto transfers over the past three months
Revolut said on Oct. 7 that it blocked up to $13.5 million worth of “potentially fraudulent crypto transfers” between June 1 and Sept. 1, 2024, according to an announcement sent to Cointelegraph.
“The company’s proactive approach has seen it significantly enhance its crypto-specific security measures recently, which has led to an increase in the amount of potential fraud it has prevented,” Revolut said.
