Not upheld: scam / fraud prevention and recovery complaint against Revolut Ltd

Decision detail

Summary

Mr A complained that Revolut failed to prevent him losing over £40,000 to an investment scam between October and November 2025 through approximately 12 payments made via crypto transfers, card payments and faster payments. Revolut intervened on multiple occasions with warnings specifically addressing investment scam features, but Mr A ignored them and provided inaccurate answers to bypass checks. The ombudsman found that Revolut's interventions were sufficient and proportionate, Mr A deliberately circumvented protections, and the firm had no obligation to refund under the APP scheme as funds were sent to accounts in Mr A's own name and included non-covered crypto transfers. The complaint was not upheld.

The Ombudsman's reasoning

Revolut intervened on multiple occasions and provided warnings that specifically addressed the scam features Mr A was falling victim to. Mr A did not heed these warnings and provided inaccurate answers to bypass Revolut's checks, indicating he was deliberately circumventing protections. Given that Revolut was only required to take proportionate steps and the warnings were specific and relevant, Revolut could not have uncovered or prevented the scam. Additionally, Revolut had no obligation to refund under the APP scheme as funds were sent to accounts in Mr A's own name and crypto transfers are not covered. The chargeback attempt was appropriate and no further recovery action was possible.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website