All I'm reading in this article is stupid people who don't follow basic security practices. Why is any of this Revolut's fault?
this post was submitted on 19 Oct 2024
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Because people are stupid and gullible and need protecting.
Revolut should be watching for suspicious transactions and blocking them like proper banks are required to do.
Revolut should be watching for suspicious transactions and blocking them like proper banks are required to do.
There's nothing in the article to indicate this isn't already the case. No suspicious activity algorithm will be foolproof. Also, revolut is certified as an actual bank in the EU, and subject to the standard bank regulations.
They aren’t a bank in the UK.
This article from about a week ago says that another guy was scammed and the scammers set up three new payees and made 137 payments totalling £165,000 within an hour to those payees. That definitely looks suspicious and should have been blocked.
Also, that victim tried to contact Revolut but they don’t have a fraud phone line and the only way to contact them is by sending messages from within the app and it took nearly 25 minutes for him to get the account frozen. That simply isn’t good enough.
Finally, that article says that Revolut has more reports of fraud against them than any other bank having 25% more than the next highest bank.
I said EU, not UK. But it turns out they ARE licensed in the UK as well.
I wasn’t correcting you. They are registered in the EU but not in the UK as far as I can tell and these complaints are from people in the UK. Maybe they have been approved but not completed the process yet.
Here is their page on the FCA https://register.fca.org.uk/s/firm?id=001b000002zyAwNAAU and it says under activities and services that they are registered for payment services and e-money but it doesn’t say that they do banking. It also says that they are not covered by the financial services compensation scheme.
If you look at the page for Barclays Bank (https://register.fca.org.uk/s/firm?id=001b000003WgItdAAF) you can see that it says that they do banking and are covered by the scheme.
But whether they are a bank or not, they definitely failed in their fraud prevention duties when they failed to detect and block 137 transactions to three new contacts in an hour.
Right, I don't care who the fuck you are or if you're some kind of NHS consultant, if someone phones you. PHONES YOU! And tells you something like this, despite clear warnings from every bank and banking app you ever had not to believe them, and you believe it, I'm not going to feel sorry for you or blame your other banking app
These scams are convincing enough that countless people fall for them. Blaming them individually is not going to bring us any closer to a solution. Better fraud detection and mitigation will.
Didn't hang up and call Amex cs using the number on the back of the card. Didn't hang up and call Barclay's in the same regard. Believes a number that he is given when he is called by a number that has not verified. Somehow believes that fraudulent charges on a credit card can also impact a different account, at a different bank, and that the two companies would even be in contact with one another. Moves 39k for 'safety'. Gives the person on the phone fucking access to his debit card via a digital wallet system. Believes that uninstalling the app will make him safer.
Holy fuck, and this man presumably prescribes medication, treatments, maybe even cuts people open? With this totally sound mind, his work record must be stellar, I bet he's only blindly listened to patients without checking their claims a few dozen times this year, and only cut people open who didn't need it 6 times so far since January.
And he is so upset, so distressed and pearl-clutching, that he refuses to believe that he is a dumbfuck, and is trying to sue over it. And, and, lmfao, the poor bastard has missed two vacation in the last 6 months because of it. Awwww, you poor moron, whatever will you do? And he had to start working on Saturday. He is just scraping by, honest, and it's not his fault he's a dumbfuck, it's the evil bank and their account that he gave a random person on the phone access to!
lmfao
E: actually, 5 months. Two vacations in 5 months. Why does someone so stupid get such luxuries?
I have two accounts with the same bank in two different EU-countries.
I need to call them to get interrogated for 20 minutes to get international transfers enabled for 24 hours, and for my other account as recipient only.
Revolut sounds like a dream for anyone who cares about their sovereignty. I hate being baby-sat by my bank.
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