{"id":73227,"date":"2022-12-05T00:10:22","date_gmt":"2022-12-05T00:10:22","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/12\/05\/fraud-victims-devastated-by-revoluts-response\/"},"modified":"2022-12-05T00:10:22","modified_gmt":"2022-12-05T00:10:22","slug":"fraud-victims-devastated-by-revoluts-response","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/12\/05\/fraud-victims-devastated-by-revoluts-response\/","title":{"rendered":"Fraud victims ‘devastated’ by Revolut’s response"},"content":{"rendered":"
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Deborah Wright was devastated when she lost \u00a38,000 in savings from her Revolut accounts to fraud in October.<\/b><\/p>\n<\/div>\n

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She expected a refund from the e-money company, but refused. Other scam victims have also had trouble getting refunds from Revolut.<\/p>\n<\/div>\n

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Unlike banks, Revolut is not subscribed to a code aimed at compensating customers for this type of fraud.<\/p>\n<\/div>\n

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The firm said it reviewed cases individually and regretted that customers had been scammed.<\/p>\n<\/div>\n

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Deborah, a dog groomer in North Yorkshire, had given her Virgin Money bank details to a fraudulent website that she believed was legitimate when shopping online.<\/p>\n<\/div>\n

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A few weeks later, the 55-year-old received a call from a man claiming to be from Virgin Money’s fraud department.<\/p>\n<\/div>\n

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The scammer said her bank account had been compromised and persuaded her to download software that would allow him to take control of her computer.<\/p>\n<\/div>\n

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The scammer, who kept assuring her she was safe, asked her about her other accounts and prompted her to transfer money from her 12 Revolut “vaults.”<\/p>\n<\/div>\n

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This included savings she had accumulated over the years for her grandson and a vacation to the United States.<\/p>\n<\/div>\n

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She lost more than \u00a38,000 on Revolut alone, along with funds from her Virgin Money account. <\/p>\n<\/div>\n

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Meanwhile, she received warnings from Revolut, but the scammer didn’t give her time to read them. He knew they were coming and told her he would send her.<\/p>\n<\/div>\n

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“I allowed everything because I thought it would be safe,” she said.<\/p>\n<\/div>\n

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“I am devastated. I’m wiped out,” she told BBC Radio 4’s You and Yours program. “It took away my comfort blanket.<\/p>\n<\/div>\n

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“It made me angry because I have to start all over again.”<\/p>\n<\/div>\n

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She asked why Revolut hadn’t stopped transactions that weren’t following their normal patterns of behavior like banks do.<\/p>\n<\/div>\n

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Virgin Money is still investigating what happened.<\/p>\n<\/div>\n

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Deborah was the victim of what is known as an “authorized push payment scam”. Scammers persuade their victims to send money themselves.<\/p>\n<\/div>\n

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About 10 high street banks have joined a code – the Contingent Reimbursement Model Code – which aims to return money to people who fall victim to this type of fraud.<\/p>\n<\/div>\n

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But Revolut is not a UK bank and has not signed up for this code.<\/p>\n<\/div>\n

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It is an e-money company that offers digital banking services. <\/p>\n<\/div>\n

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It does not have a UK banking license. She submitted an application in January 2021 but is still awaiting the result.<\/p>\n<\/div>\n

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Another person who was scammed was Mark, who runs an arts and graphics business in Brighton.<\/p>\n<\/div>\n

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He too was called by scammers who persuaded him to download desktop sharing software that would allow them to take control of his computer.<\/p>\n<\/div>\n

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Mark called, but then got suspicious. When he checked his Revolut app 10 minutes later, he found almost \u00a356,000 had been stolen. <\/p>\n<\/div>\n

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“My heart almost stopped,” he said.<\/p>\n<\/div>\n

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\n
    \n
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    \n

    He tried to get Revolut to stop the transaction, thinking the company could protect him, but it didn’t.<\/p>\n<\/div>\n

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    “I realized I was completely alone in this,” he said.<\/p>\n<\/div>\n

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    Although Revolut has since said it would refund \u00a330,000, it described the situation as “absolutely shocking”.<\/p>\n<\/div>\n

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    “I can’t trust them [Revolut]. I just feel ignored,” he said.<\/p>\n<\/div>\n

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    The scammers persuaded both Deborah and Mark to download the legitimate Anydesk software.<\/p>\n<\/div>\n

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    Anydesk said people using its software to cheat are “immoral and unacceptable,” and it urged users to “never share information with anyone they don’t know or trust.”<\/p>\n<\/div>\n

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    George, a project manager from Northampton, fell victim to a different kind of scam.<\/p>\n<\/div>\n

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    In October he went to London with friends for his bachelor party.<\/p>\n<\/div>\n

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    He passed out – police believe his drink was likely spiked – and his phone and cards were stolen. The criminals then went on a shopping spree.<\/p>\n<\/div>\n

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    They withdrew \u00a33,000 from an ATM and spent \u00a317,500 at various Regent Street shops in less than four hours.<\/p>\n<\/div>\n

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    When he contacted Revolut, he was denied a refund.<\/p>\n<\/div>\n

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    He said Revolut’s view was that he either gave away his PIN or did it himself, adding that the whole experience made him feel “very vulnerable”.<\/p>\n<\/div>\n

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    Aaron Elliott-Gross, Revolut’s head of fraud and financial crimes, said the firm was “deeply sorry to hear that our customers have been targeted by scammers and criminals”.<\/p>\n<\/div>\n

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    Each refund case is treated individually, he said, with Revolut considering how effective its alerts were in making the decision, along with the behavior of the customer.<\/p>\n<\/div>\n

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    Mark was partially reimbursed because Revolut accepts it “could have done more to warn Mark”.<\/p>\n<\/div>\n

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    But Deborah was warned about her transactions and there was no evidence criminals had accessed George’s PIN, he said.<\/p>\n<\/div>\n

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    He added that in George’s case, consumers who use e-wallets like Apple Pay or Google Pay need to be aware that “your phone password can be compromised and overlooked.” A phone can be used to pay if the passcode is entered.<\/p>\n<\/div>\n

    \n

    Deborah, Mark and George all said they could not contact Revolut by phone and could only speak to staff via live chat.<\/p>\n<\/div>\n

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    Mr Elliott-Gross said Revolut’s chat feature is the safest way for customers to interact with the company.<\/p>\n<\/div>\n

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    “Having a call center is not a silver bullet,” he said.<\/p>\n<\/div>\n

    \n

    For more on this story, <\/i>listen to you and yours on BBC Sounds.<\/i><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Deborah Wright was devastated when she lost \u00a38,000 in savings from her Revolut accounts to fraud in October. She expected a refund from the e-money company, but refused. Other scam victims have also had trouble getting refunds from Revolut. Unlike banks, Revolut is not subscribed to a code aimed at compensating customers for this type […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-73227","post","type-post","status-publish","format-standard","hentry","category-business"],"yoast_head":"\nFraud victims 'devastated' by Revolut's response - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2022\/12\/05\/fraud-victims-devastated-by-revoluts-response\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fraud victims 'devastated' by Revolut's response\" \/>\n<meta property=\"og:description\" content=\"Deborah Wright was devastated when she lost \u00a38,000 in savings from her Revolut accounts to fraud in October. 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