Close Menu
    Facebook LinkedIn YouTube Instagram X (Twitter)
    Blue Tech Wave Media
    Facebook LinkedIn YouTube Instagram X (Twitter)
    • Home
    • Leadership Alliance
    • Exclusives
    • Internet Governance
      • Regulation
      • Governance Bodies
      • Emerging Tech
    • IT Infrastructure
      • Networking
      • Cloud
      • Data Centres
    • Company Stories
      • Profiles
      • Startups
      • Tech Titans
      • Partner Content
    • Others
      • Fintech
        • Blockchain
        • Payments
        • Regulation
      • Tech Trends
        • AI
        • AR/VR
        • IoT
      • Video / Podcast
    Blue Tech Wave Media
    Home » Revolut takes action against Meta Platform scams
    Meta platform Scam
    Meta platform Scam
    Fintech

    Revolut takes action against Meta Platform scams

    By Sylvia ShenFebruary 20, 2024Updated:February 21, 2024No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email
    • Revolut, a UK-based neobank, revealed that Meta platforms accounted for 33% of the total money lost to scammers.
    • To bolster protection against Authorised Push Payment (APP) frauds, Revolut has rolled out an additional security layer allowing customers to identify and prevent fraudulent money transfers.

    Revolut, a UK-based neobank, reports that Meta platforms including Facebook, Instagram, and WhatsApp were the source of 33% of the money lost to fraudsters. Neobank has introduced a fraud detection technology in an effort to better safeguard its customers.

    Revolut responds to rising scam instances on Meta platforms

    Scam instances on Meta platforms increased from 52% to 66%, according to Revolut. Revolut has given its consumers an extra layer of security protection to identify APP (authorised push payment) frauds, in which perpetrators deceive the user into transferring money to a different account.

    With the use of advanced machine learning, Revolut’s new AI scam tool can identify whether a consumer is being scammed and stop money transactions.

    The new function, which was developed in-house by Revolut’s financial crime team, has the ability to identify if a consumer is most likely using their card to pay for something fraudulently, in which case it can reject the payment.

    The user is subsequently sent through an in-app scam intervention path and shielded from making any further identical payments. In order to determine whether they are being guided by someone, the client must offer more details about the transaction they were trying at this step.

    Revolut has noticed a 30 percent decrease in fraud losses since the introduction of the card scam detection tool.

    Also read: Binance CZ Warns Crypto on Scam

    Revolut’s David Eborne affirms major investment in AI-Scam tech

    “We’re very excited to be launching our new AI-scam feature which implements advanced technology to interrupt fraudsters taking advantage of everyday people,” David Eborne, head of fraud at Revolut, stated: “We’ve invested heavily in the product to ensure that customers can continue to spend and send their money safely.

    Davis Eborne META Revolut
    Sylvia Shen

    Sylvia Shen is an editorial assistant at Blue Tech Wave specialising in Fintech and Blockchain. She graduated from the University of California, Davis. Send tips to s.shen@btw.media.

    Related Posts

    Bank of Africa Kenya: Supports small firms beyond big-bank reach

    July 11, 2025

    Zenith Bank Ghana Ltd: Driving digital banking

    July 10, 2025

    Reverse AFRINIC’s election annulment, honor the votes, uphold the rule of law

    July 10, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    CATEGORIES
    Archives
    • July 2025
    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • August 2023
    • July 2023

    Blue Tech Wave (BTW.Media) is a future-facing tech media brand delivering sharp insights, trendspotting, and bold storytelling across digital, social, and video. We translate complexity into clarity—so you’re always ahead of the curve.

    BTW
    • About BTW
    • Contact Us
    • Join Our Team
    TERMS
    • Privacy Policy
    • Cookie Policy
    • Terms of Use
    Facebook X (Twitter) Instagram YouTube LinkedIn

    Type above and press Enter to search. Press Esc to cancel.