Revolut says some customer data were exposed in email-based scam

LONDON – Revolut said a “limited number” of customers had sensitive information disclosed in a scam involving an unauthorised third party that used a legitimate government email domain.

The financial technology firm said it blocked the address after detecting the scheme and alerted the “relevant government agency”, law enforcement, data-protection officials and financial regulators. TechCrunch earlier reported the breach on Sept 12.

“Revolut systems and customer funds are unaffected,” a Revolut spokesperson said Sept 12 by email. “We have contacted the limited number of impacted individuals directly to inform them and provide support.”

The London-based fintech firm has more than 80 million customers globally, with a goal of reaching 100 million. It has identified the US as a key growth market and received conditional approval in early September to operate as a national bank there, after applying for a US charter in March. 

Revolut, valued at US$115 billion in a July share sale, has committed US$500 million to the US over three to five years and has stepped up marketing efforts, including offering free subway rides to New Yorkers.

In February, Revolut started its first major banking operations outside Europe in Mexico. Bloomberg