Consumer complaint received 2024-06-18
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Fraud or scam — 
Company: Revolut Technologies Inc. ()

Regarding my case and a recent transaction in XXXX, I sold cryptocurrency and received the funds in my Revolut account.I was Just engaged in a standard trade that many individuals conduct daily. However, on XX/XX/XXXX, Revolut restricted both my account and my joint account ( with my French husband ) for review. And they promised me that my funds will stay safe. After a three-week delay, they requested information on the source of my revenue, which I promptly provided. and they promised if they need more details, they will ask me .Despite this, on XX/XX/XXXX, after over 33 days,. Revolut returned XXXX to a sender without notification and without proper investigation. After briefly reopening my account for less than XXXX day, Revolut restricted my account again and transferred XXXX to another sender, causing me huge distress and financial loss.I can not know how they made this big decision for big part of my funds in XXXX hours and just with pressing a bottom!!! after all these mistakes from Revolut, they closed my account, Following the closure of my account, it was reopened in less than XXXX hours!!!, and representatives began to communicate with me and investigate the matter. They apologized and offered a three-month XXXX plan as a gesture of goodwill. However, the process of blocking, unblocking, closing, and reopening an account within such a short timeframe is highly unprofessional and raises significant concerns about security and safety. 
Despite repeated inquiries, Revolut 's support remained unresponsive. Their response was inconsistent, often offering different explanations or failing to address the issue. It's alarming that at times they suggested I retrieve my funds directly from the scammers themselves. This not only reflects a concerning lack of accountability on their part but also places an unfair burden on me as the victim of fraudulent activity. 
Revolut initiated investigations after the unfortunate events transpired and resulted in the loss of my funds.During their unprofessional justice procedure they ignored me as alive person and they never ask me any question. However, these investigations should have been conducted before transferring the money back to the senders. Unfortunately, Revolut 's system wrongfully transferred my legally obtained funds to the scammers ' accounts.

My money was in my Revolut bank account, and they blocked it while promising that it would be safe until they conducted their investigations. However, they were not true to their promise. Without any prior announcement, notice to me, or asking for any further information about the facts of the case, they wrongly transferred a large amount of my funds ( more than a month after the transaction ) to some people who are clearly scammers in this case. It seems for more than a month, they are unable to identify who authorized these reversal transactions, indicating a systemic issue within their system, which resulted in the loss of my funds. 
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My concern arises from the fact that despite the restrictions on my account for review, my funds were not protected. Especially concerning is their admission that they are uncertain about who returned the funds to the sender. Therefore, I kindly ask you to immediately make the necessary arrangements for the funds to be promptly returned to my account, as there was no legal basis for them to be reversed in the first place. 

Revoluts process for sending and receiving money involves several verification steps. When initiating a transfer, users are prompted with a message asking, Do you trust this person? and only after affirming this can the transaction proceed. Similarly, when receiving money, Revolut asks, Do you know this transaction? which must be confirmed with a yes to complete the transaction. Both parties involvedthe sender and myselfsigned off on these transactions, thus completing them. 
In this particular case, the senders did not include any comments or explanations in the designated space, which is uncommon as most users typically note the purpose of the transfer ( e.g., money for this or money for that ) .Because they already confirmed that they received the crypto in the platform of crypto provider.. Moreover, despite the presence of an in-app chat feature, neither of the XXXX senders, whom I suspect are collaborating scammers, communicated with me at all. I have strong reasons to believe that these individuals coordinated to defraud me. After purchasing cryptocurrency from me, they sent the payment and then subsequently requested a refund from Revolut. Revolut processed this refund 35 days after the transactions, returning the money to these XXXX individuals without consulting me or seeking any details or communications from my side. This action effectively disregarded my involvement and presence in the matter. Revolut does not have any provement that my XXXX that I sold is not with these people so they made a decision just based on assumptions! \nEven I talked to XXXX of these individuals after the reversal transaction with the app chat of the bank, and I just saw some fabricated stories that could be even funny, So Revolut Just consider those issues! 
After all this ordeal, Revolut contacted me, asked a few questions, and then apologized for the inconvenience caused. They offered a mere XXXX as compensation for my loss of XXXX, and suggested that I seek further recourse on another platform. This response is clearly inadequate and highlights the serious flaws and vulnerabilities within Revoluts system.

The enclosed document provides comprehensive evidence of the situation and the mismanagement by Revolut. This experience has caused me significant distress and harm, to the extent that I was in a severely depressed state for weeks. I must express my profound concern regarding Revoluts system, which appears to facilitate fraudulent activities rather than safeguard its users. I kindly urge you to review the enclosed document to understand the full extent of the issues I encountered and the critical need for systemic XXXX to prevent such occurrences in the future.Revolut does not have clear evidence that these individuals are not scammers or that the Cryptocurrency I sold is no longer with them. Revolut 's decision to refund these transactions appears to be based solely on assumptions. It is even possible that these scammers hacked the account to reverse the transaction. Revolut 's actions in this matter raise significant concerns due to their unprofessionalism and lack of thorough investigation.\nWhy, for more than XXXX month, was no one able to see the reasons behind those transactions? Why did the individuals involved not write anything in the receipt of the reversal? Who authorized these actions? \nOr this happened just because the scammers fabricated some stories to take back my money? 
At the end, Revolut Bank designated me as a victim without thoroughly investigating all the facts surrounding their incorrect action/decision to transfer a substantial amount of my funds without ensuring the accuracy of the situation. And after, XXXXhey Just Apologized and offered me compensation such as XXXX months of XXXX service And XXXX XXXX! And They mentioned that I have a right to complain ... They Ask me to recover my funds from the platform that I sold XXXX, But, XXXX has already sent me an email confirming that the issue is not their responsibility. They performed their job correctly and released my digital funds to the person only after I confirmed receipt of the funds in my Revolut account. This clearly indicates that the error and the subsequent mess were solely caused by XXXX. 
I am certain that during this process, Revolut nearly destroyed me. I am no longer myself ; I am in shock. The stress they have caused is irreparable. I can no longer live happily as I did before. This ordeal has also led to significant family problems. This bank is unequivocally a dangerous organization. 
I have lot of provements but unfortunately I could not attach them here as they are big size.