A Revolut customer who lost money in a cryptocurrency scam has successfully recovered their funds after the Financial Ombudsman Service ruled against the bank. The Ombudsman found Revolut failed to do enough to protect the customer, despite warning signs of fraud. This case highlights that even when payments are authorised, victims of scams may still have a route to recover their losses.
In a case that could influence many others, Revolut has been told to refund a customer £15,770 after she fell victim to a sophisticated cryptocurrency scam promoted via social media.
The Financial Ombudsman Service ruled that Revolut failed in its duty of care by allowing a large payment to go through without proper checks — despite clear red flags.
This case illustrates that, in certain circumstances, banks can be held responsible for authorised scam payments — particularly where they fail to carry out appropriate checks.
In March 2024, “Mrs C” came across what looked like a credible crypto investment opportunity online. The advert appeared to be endorsed by a well-known celebrity and a popular British TV programme.
After making an enquiry, she was contacted by someone posing as a crypto investment adviser. The scammer provided detailed, convincing information and helped her set up accounts on legitimate crypto exchanges. Encouraged her to download screen-sharing software and claimed that a partner could buy Bitcoin on her behalf.
Between 27 April and early May 2024, Mrs C made three payments from her Revolut account:
The final payment was funded by money returned from the crypto exchange just hours earlier. When she later tried to withdraw her “profits,” she was pressured to invest more, this is a classic scam tactic.
Mrs C contacted Revolut for help, but the bank denied liability. They argued she was shown scam warnings and ignored them, therefore, they had fulfilled their obligations
At first, even the Financial Ombudsman investigator sided with the bank. But Mrs C didn’t give up.
Mrs C escalated the complaint for full Ombudsman review and the final outcome was very different.
The Ombudsman found that the £15,770 payment was unusual, high-value, and sent to a new international payee. Revolut had previously blocked a similar £16,000 payment, showing they could spot risky transactions. The Ombudsman found the bank should have paused the transaction and asked more questions These steps could have exposed the scam before it was too late.
At Compensation Adviser, we specialise in helping people recover money lost to cryptocurrency scams. Our expert team understands how these scams work — and challenge financial institutions when fraud checks fail.
Here’s what you can expect from our service:
A dedicated crypto claims team – We understand the complexities of crypto fraud — including fake platforms, phishing scams, and wallet theft.
A proven track record – We’ve successfully helped clients reclaim losses from financial mis-selling and scam-related cases.
End-to-end support – From your free initial assessment to final resolution, we’re here every step of the way.
Current expertise – We stay informed on the latest scam tactics, banking standards, and Financial Ombudsman decisions.
Fair and transparent pricing – Our success fee is 15% + VAT, and you only pay it if we recover money for you. We also cap our fees at one of the lowest levels in the industry — ensuring more of your recovered funds go back to you.
Note: A cancellation fee may apply if you cancel more than 14 days after signing your agreement.
If your bank let suspicious payments go through, especially to crypto platforms or unknown individuals you may have a case.
At Compensation Adviser, we specialise in helping victims of crypto scams and APP fraud.
If you think your bank could’ve done more, we’ll review your case at no cost.
You’re not alone — and you may still have options. We offer a free, no-obligation assessment to help you understand your next steps.
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You are not required to use our services to pursue your claim. You can also seek further advice or shop around subject to any time limits within which a claim must be made.
It is possible for you to present the claim for free, either to the bank, business or person against whom you wish to complain or to the Financial Ombudsman Service or the Financial Services Compensation Scheme, whichever is applicable to your claim.