Revolut

[bitchstewie]

BBC seems to be running a few articles about security and scams etc.

NHS consultant who lost £39k among 100 Revolut customers contacting BBC over scams

[the-norseman]

If you ever get a call from "your bank" tell them you will call them back on the official number.

Its as straight forward as that.

[eyeslikealemur]

Right.

So 1 punter allowed badguy to remote desktop to her pc and then she authorised 4 transfer transactions to a total of £160,000.

She's been awarded £115,000 to be paid back by the FOS but wants more.

Punter 2 had a card connected to his Revolut account and agreed to transfer £39,000 from his bank accounts to his Revolut account and then delete the Revolut app for 24 hours while the badguy spent all his money via the card (not sure how).

And we all wonder why we have to go through body cavity search security from our banks when we want to move 3k to give to aunt Mavis.

[MitchT]

I've read about a number of these scams. One the one hand, most of them would have been avoided if the victims hadn't trusted some random who'd phoned them up out of the blue. On the other hand, Revolut's security seems to be found wanting in numerous ways. Also, "Revolut" sounds like some kind of Soviet propaganda slogan, which would be enough to put me off.

[eyeslikealemur]

Interestingly, I once had my bank call me back as part of their security checks for moving some money.

Geezer called me from his mobile.

Got quite shirty when I asked him to prove that he was calling from the bank, which he couldn't do.

He actually said 'of course I'm calling from your bank'.

I thought he was going to cry.

Easily offended these bank employees.

[snuffy]

We need you to move your money to a "safe" account. As if your bank would ever do this.

Compare with "This is the police. We think a burglar is going to come to your house to steal all your possessions. So we'll be sending a van round to keep them safe. If you could just load it up with all your belongings, that would be great".

[krisdelta]

Not sure this is a Revolut issue, PBKaC more like

[Eric Mc]

the-norseman said:

If you ever get a call from "your bank" tell them you will call them back on the official number.

Its as straight forward as that.

Not quite. Scammers have ben known to "hold" the line open so when you call back using the "official" fraud helpline number, you may still be talking to the scammers.

The way around this is to call the helpline on a completely different phone to the one you have been using to talk to the cammers.

[Terminator X]

When random strangers ring me I cut the call. Always.

TX.

[Truckosaurus]

It always surprises me that people who fall for these scams are otherwise clever or savvy enough to have acquired very healthy bank balances.

[the-norseman]

Eric Mc said:

Not quite. Scammers have ben known to "hold" the line open so when you call back using the "official" fraud helpline number, you may still be talking to the scammers.

The way around this is to call the helpline on a completely different phone to the one you have been using to talk to the cammers.

That wouldn't work though would it, because if I was to put phone down to them, and then dial a new number and there was no dial tone, ringing tone and then menu options... you would know.

[bitchstewie]

MitchT said:

I've read about a number of these scams. One the one hand, most of them would have been avoided if the victims hadn't trusted some random who'd phoned them up out of the blue. On the other hand, Revolut's security seems to be found wanting in numerous ways. Also, "Revolut" sounds like some kind of Soviet propaganda slogan, which would be enough to put me off.

That's how I took it to be.

Feels like these people would have been scammed regardless of bank but the security measures and checks Revolut used didn't sound great either.

I always flip flop between thinking "there but for the grace of god" and "your phone rang and you did fking what?!?!"

[andy ted]

It’s a bit of a stretch for these people to blame Revolut above the scammers and some personal responsibility? I can see a more of a case for the one who did £160k in 4 large transactions to have been flagged at least after the first one - but presumably so did the FOS and that is why they were told to return £115k?

Personally think for the right use case Revolut is unbeatable - wouldn’t store my life savings in there but no need to? Top it up when you need it - can create one time use cards for internet shopping, can buy from euro websites, etc etc

The press and the FT in particular seem to be after them - we should celebrate successful UK tech businesses (while also making sure they are regulated correctly of course!) there are not that many to sing about at the moment!

[Southerner]

andy ted said:

It’s a bit of a stretch for these people to blame Revolut above the scammers and some personal responsibility? I can see a more of a case for the one who did £160k in 4 large transactions to have been flagged at least after the first one - but presumably so did the FOS and that is why they were told to return £115k?

I thought the same. Scammers pretended to be from Amex, and then Barclays, it doesn’t say at any point they pretended to be from Revolut, he just gave them access to that account. Feel sorry the chap lost £40k, but I’m at a complete loss as to how that’s Revolut’s fault?! Or is the suggestion that their app security is lacking somehow?

Edited by Southerner on Saturday 19th October 17:20

[Mojooo]

I'm not sure how they spent his money? He gave them his Revolut account card details and then they could just spend the money electronically ?


New rules came in which now make both banks/PSP liable for this type of fraud - so it should force Revolut to increase security to stop scammers

[Ezra]

Whenever I see things like this, and I accept its only basic facts in the article, it does make me question where the line is between taking personal responsibility and laying the blame elsewhere or seeking compensation. I think there's a correlation between the more society, regulation, legislation etc seeks to protect us, the less resilience and ability to take personal responsibility we have.

[Southerner]

Mojooo said:

I'm not sure how they spent his money? He gave them his Revolut account card details and then they could just spend the money electronically ?


New rules came in which now make both banks/PSP liable for this type of fraud - so it should force Revolut to increase security to stop scammers

The article is predictably vague, it says:

“ He lost £39,000 in May when scammers tricked him into transferring money into his Revolut account and giving them access to it “

‘Giving them access’ rather suggests that the liability may well lie with the account holder I would think?

Edited by Southerner on Saturday 19th October 17:19

[The Gauge]

A lot of these victims are perhaps gullible and could have easily prevented becoming a victim. But some will vulnerable people who might not have the same level of awareness as we have, and the scammers will be just hoping that they strike it lucky and one of those two groups of people answers their phone.

[LosingGrip]

Eric Mc said:

Not quite. Scammers have ben known to "hold" the line open so when you call back using the "official" fraud helpline number, you may still be talking to the scammers.

The way around this is to call the helpline on a completely different phone to the one you have been using to talk to the cammers.

Phone someone you know is another option as well. You then know what they sound like.

[Vasco]

Surely, it's Revolut that has had the most complaints?
It tries to do too much and some people are attracted by the opportunity to get one operation to handle virtually everything.........
always a danger.