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

Decision detail

Summary

Mr P complained that Revolut failed to refund £58,411 he lost to a scam involving cryptocurrency investments made between September and October 2025. Mr P made multiple payments to a legitimate cryptocurrency provider (K) but subsequently moved the funds to a scammer. Revolut intervened on several occasions with automated questions and a telephone call, providing specific cryptocurrency investment scam warnings. However, Mr P was not entirely truthful in his responses, failing to disclose third-party involvement and that funds would be moved to accounts outside his control. The ombudsman found that Revolut's interventions were proportionate and that Mr P's dishonesty hindered the firm's ability to uncover the scam. The ombudsman concluded that even with additional interventions, Mr P would likely have continued to be dishonest and the scam would not have been prevented, so Revolut was not liable for the losses.

The Ombudsman's reasoning

The ombudsman applied the legal starting position that customers are presumed liable for authorised payments, even if tricked into making them. However, the ombudsman recognised that payment service providers should take proactive steps to identify and prevent transactions that could involve fraud. The ombudsman found that Revolut's interventions were proportionate and that Mr P's lack of honesty in answering questions about third-party involvement and onward transfers hindered Revolut's ability to uncover the scam. The ombudsman concluded that even with additional interventions, Mr P would likely have continued to be dishonest, and that the specific cryptocurrency scam warnings provided did not resonate with him. Therefore, Revolut could not reasonably have prevented the losses.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website