People familiar with the matter: Revolut is in talks with the UK FCA for allowing funds to flow out of suspicious accounts

Odaily星球日报 · 2023-09-30T12:13:06.000Z

Odaily Planet Daily News Revolut is in talks with the UK’s financial regulator over allegedly allowing funds to flow out of accounts flagged as suspicious by the UK’s National Crime Agency (NCA). It is reported that the financial technology company encountered a series of problems while waiting for a British banking license. The UK's Financial Conduct Authority (FCA), which oversees Revolut's payments business, is approaching the company, with support from the NCA, over the alleged failures that occurred between July and August, two people familiar with the matter said. People familiar with the matter said as much as 1.7 million pounds had flowed out of the flagged accounts. One of the people said Revolut informed the FCA of the latest problems in recent weeks but claimed only £500,000 had been drained. Revolut, NCA and FCA declined to comment. (Financial Times)

Odaily Planet Daily reported that Revolut is in talks with British financial regulators over allegedly allowing funds to flow out of accounts marked as suspicious by the National Crime Agency (NCA). It is reported that the fintech company has encountered a series of problems while waiting for a UK banking license. Two people familiar with the matter revealed that the UK Financial Conduct Authority (FCA), which regulates Revolut's payment business, is approaching the company with the support of the NCA regarding the alleged failures that occurred between July and August. People familiar with the matter said that up to 1.7 million pounds of funds flowed out of the marked accounts. One of the people familiar with the matter said that Revolut informed the FCA of the latest problems in recent weeks, but claimed that only 500,000 pounds had flowed out. Revolut, the NCA and the FCA all declined to comment. (Financial Times)