Hundreds of European customers of the digital bank Revolut found themselves in a precarious situation after their personal information was handed over to hackers impersonating a government agency. This alarming situation was confirmed by Revolut on Wednesday, revealing that they had detected what they called a “sophisticated external impersonation scam.” The scheme involved an unauthorized third party using a legitimate government agency’s email address to pull off fraudulent requests for customer data.
According to reports from the Financial Times, the hackers, believed to be Italian, managed to compromise an Italian government email account. They then posed as officials seeking sensitive customer information. Can you believe it? They not only obtained addresses but also verification photos, identity documents, and even details about customers’ bitcoin activities. A source familiar with the matter disclosed that approximately 680 Revolut customers across various European countries were impacted by this breach.
Revolut, while based in the UK, operates its European banking services under a license from Lithuania, boasting a staggering 50 million customers across the continent. The company reassured that its systems remained “unaffected” and that customer funds were secure. They reached out to those individuals impacted to provide necessary support. “Upon detection, we immediately blocked the address and informed the relevant government agency as well as enforcement agencies, data protection, and financial regulators,” Revolut stated.
In a twist, the UK’s Information Commissioner’s Office confirmed they had received a report regarding this incident and were currently assessing the information provided. This breach occurs against the backdrop of Revolut’s ambitious expansion into the global banking sector, a decade after it first emerged as a fintech start-up in 2015. Just this past July, the company was valued at an eye-watering $115 billion (€98.7 billion) during a secondary share sale.
Earlier this year in March, Revolut secured a long-awaited banking license in its home market of the UK. This breakthrough lifted restrictions, allowing them to compete with established retail banks more effectively. Following this, they also bagged a full French banking license in August. The company’s recent strides include conditional approval for a US banking license and an application for a banking license in Switzerland filed just this week.
Initially focusing on smartphone-based currency exchange and money transfers, Revolut has since broadened its scope to include a wide range of financial services. Today, they proudly serve over 80 million customers worldwide and have set their sights on reaching 100 million customers across 100 countries. So, what’s next for Revolut amidst this security scare and aggressive expansion?
Kaynak: Orijinal Haber
