Revolut and the Fight Against Financial Fraudsters

<p>Revolut, the global financial giant with a whopping 35 million users,
is doubling down on the battle against financial fraud. Since 2021, they've
doubled the size of their Financial Crime (FinCrime) team. With over 77,000 eager job
applicants since November 2022, it’s evident that everyone wants in on the
action.</p><p>OK, fraud isn’t sexy, but we can’t all be OpenAI who are preparing to
fight the rise of the robots and some of our slyest foes, the fraudsters, are
getting more cunning. The UK alone lost £1.12 billion to these rogues in 2022.
So, Revolut's <a href="https://www.revolut.com/news/revolut_doubles_financial_crime_headcount_to_combat_rising_industry_fraud/">responding
by unleashing a squad of over 2,500 FinCrime experts</a> across six markets.
They're spread across the board, from product development to anti-money
laundering. With a 100% YoY increase in retail transactions, Revolut still
managed to block over £200 million in potential fraud over the last year.</p><p>Revolut – Staying Ahead of the Curve</p><p>Revolut's not just keeping up with the criminals; they're beating them.
While fraudsters are shifting from old-school “<a href="https://www.financemagnates.com/tag/fraud/" target="_blank" rel="follow">fraud</a>” to the trendier “<a href="https://www.financemagnates.com/tag/scam/" target="_blank" rel="follow">scams</a>,” – and there is a <a href="https://www.hsbc.co.uk/help/security-centre/fraud-guide/difference-between-fraud-and-scams/" target="_blank" rel="nofollow">difference</a> – Revolut’s on the ball. Despite a 35% reduction in APP Fraud since June this
year, they're not resting on their laurels.</p><blockquote><p lang="en" dir="ltr">