According to Foresight News, The Block reported that British fintech company Revolut said that it has avoided nearly $13.5 million in cryptocurrency losses for customers in the past three months by strengthening fraud protection measures. The company launched its cryptocurrency-specific trading platform Revolut X in the UK earlier this year, and the algorithms it installed have marked 8% of transfers between June and September as potentially suspicious transactions. Revolut said that these algorithms are designed to comply with fraud prevention and anti-money laundering regulations while efficiently processing customer transactions in real time. In addition, Revolut has also launched an opt-in wealth protection feature that uses biometric protection, including selfie verification that is cross-referenced with the user's KYC information submitted during the registration process.