Not upheld: scam reimbursement / fraud protection complaint against Revolut Ltd

Decision detail

Summary

Mr S lost £9,520 to an investment scam via two payments made through Revolut in October 2025 and sought reimbursement. Revolut intervened on the second payment and displayed warnings about cryptocurrency investment scam risks. When questioned, Mr S provided misleading information about the investment that would have alleviated the firm's concerns. The ombudsman found Revolut's intervention was proportionate, the warnings were appropriate, and there was no evidence the firm knew or should have known of Mr S's vulnerability. The complaint was not upheld as no failings were identified on Revolut's part.

The Ombudsman's reasoning

Revolut was required to identify and prevent sufficiently unusual or uncharacteristic payments. The firm intervened and displayed appropriate warnings about cryptocurrency investment scam risks. Mr S provided misleading information when questioned that would have alleviated concerns. The warnings were proportionate to the risk posed. There was no evidence Revolut knew or should have known of Mr S's vulnerability. No realistic prospects of recovery existed as funds had already reached the scammer's wallet.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website