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Revolut secures UK banking license, but figures show digital banking fraud on the rise

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The prominent neobank saw the number of fraud complaints jump to 3,838 in 2023.

A number of Revolut customers have resorted to complaining via the Financial Ombudsman Service (FOS) after having their fraud reimbursement requests ignored.

The numbers emerged as Revolut secured its long-awaited UK banking license. It now enters the Prudential Regulation Authority’s (PRA) ‘mobilization’ stage. This is designed for new banks to