Revolut draws a weapon to fight against banking scams

We probably won't teach you anything by telling you that online scams have exploded in recent years. In France, the number of victims of fraud increased from 250,900 in 2016 to 411,700 in 2023, an increase of 64%.

A few months ago, the neobank Revolut had openly accused Meta for not doing enough to fight this scourge. But the British actor doesn't just talk. In order to fight more effectively against scam attempts, particularly those where fraudsters pose as bank advisors, Revolut presents a calling system directly integrated into its mobile app.

An insurmountable barrier in theory

The principle is simple… From now on, the majority of telephone communications between Revolut and its individual customers will do so exclusively via the application. This native functionality, developed and tested for several months, would, according to the bank, constitute an insurmountable barrier for crooks, who cannot reproduce it.

The first statistics are encouraging according to Revolut: the number of identity theft scams affecting its customers has reached its lowest level in two years, despite a significant increase in the number of users. The neobank has 4 million users in France.

Human vigilance remains essential

Woody Malouf, responsible for the fight against financial crime within the online bank, also makes his recommendations. Therefore, in the event of an unexpected call concerning their personal account, customers must immediately hang up and verify the identity of their interlocutor via the application. According to him, this method guarantees 100% authentication of Revolut advisors.

The neobank also indicated that it would soon extend this functionality to professional customers of Revolut Business. At the same time, the company continues to encourage the use of in-app chat, considered a secure and quick way to communicate with customer service.