Fintech scams are on the rise, and Revolut is at the center of it. In this Fintechs Fair Play video, we reveal how £460 million was lost to authorized push payment (APP) fraud in 2023, with Revolut facing thousands of complaints about denied refunds. We explore the impact of these scams on the fintech industry, how scammers operate, and why consumers struggle to recover their funds.
We’ll also dive into the new UK regulations set to take effect in October 2024, which will require banks and fintechs to reimburse fraud victims within five days. With Revolut and other digital banks facing growing pressure to tackle fraud, we break down what these changes mean for you as a consumer or business owner. Don't miss out on this essential guide to understanding fintech fraud and the future of financial protection.
Watch now to stay informed and protect yourself from the rising wave of fintech scams.
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