Revolut Gets More Scam Complaints Than UK Banks, Ombudsman Says

Revolut Ltd. has denied thousands of UK customers’ requests to be reimbursed after they were defrauded by scammers, leading many of them to turn to the country’s Financial Ombudsman Servicefor help with their case.

The fintech giant saw a 35% surge in new fraud complaints from customers in the second half of 2023, the latest period for which data is available, according to figures provided by the ombudsman. That topped all rivals and UK lenders and comes as regulators ramp up efforts to tackle online scams plaguing the industry.

New complaints faced by Revolut jumped to 2,208 in the ...