Not upheld: Fraud reimbursement (APP scams) complaint against Revolut Ltd

Decision detail

Summary

Mrs C complained that Revolut failed to reimburse funds she lost to a scam between February and May 2025, where she believed she was investing in a legitimate job opportunity but was actually sending money to cryptocurrency wallets controlled by scammers. Revolut intervened on several occasions with warnings about cryptocurrency investment scams, but Mrs C provided misleading information about the purpose of the payments. The ombudsman found that while Revolut had additional opportunities to intervene, Mrs C was heavily influenced by the scammer who provided step-by-step guidance on what answers to give Revolut's questions, and would likely have sought similar guidance or used alternative payment methods if Revolut had intervened further. The complaint was not upheld as the ombudsman was not persuaded that Revolut's failings materially impacted the loss.

The Ombudsman's reasoning

Although Revolut intervened on several occasions and provided appropriate warnings about cryptocurrency investment scams, the ombudsman found that Mrs C was heavily influenced by the scammer and willing to provide misleading information to ensure payments would be processed. The scammer provided step-by-step guidance on what answers to give Revolut's questions. Even if Revolut had intervened further, Mrs C would likely have sought guidance from the scammer as she had done previously, and would have found alternative payment methods through other firms' accounts to circumvent restrictions. Therefore, any additional intervention by Revolut would not have materially prevented the loss.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website