Not upheld: scam - unauthorized payments / refund claim complaint against Revolut Ltd

Decision detail

Summary

Mr F lost approximately £9,785.69 to a crypto scam through three payments made from his Revolut account to a legitimate crypto provider K via payment processor BC in December 2025. Revolut intervened before processing the larger payments with automated warnings and a telephone conversation, warning Mr F about scam risks and questioning third-party involvement. Despite these warnings and information about common crypto investment scam features, Mr F assured Revolut he was investing independently with prior crypto experience. The ombudsman found Revolut's interventions were proportionate and that Mr F knowingly authorized the payments, even if he did not fully understand the mechanism. The ombudsman concluded Revolut was not responsible for the loss and that even stricter account closure procedures would likely not have prevented the scam, as Mr F was following the scammer's instructions.

The Ombudsman's reasoning

The ombudsman found that Revolut took proportionate steps to protect Mr F through automated warnings and a telephone conversation before processing the larger payments. Mr F was warned about scam risks and common features of crypto investment scams, yet he assured Revolut he was investing independently with prior experience. Although Revolut arguably should have requested alternative account details for the final £5,447.76 payment given their concerns, the ombudsman concluded Mr F would likely have found another way to send funds to the scammer based on evidence he was following the scammer's instructions. The payments were not covered by mandatory reimbursement schemes, and Revolut could not have recovered the funds as they were forwarded from Mr F's K wallet to the scammer.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website