FRAUD PREVENTION

Revolut adds call identification feature to combat impersonation scams

Revolut’s finance app now offers a feature designed to help fight fake scams.

According to a press release on Tuesday (Jan. 13), the new call recognition feature can detect when customers who have opened the app are on the phone, confirm whether they are talking to a Revolut customer service agent, and display a banner showing that they are or are not talking to the company.

If the caller is not from Revolut, customers can click on the banner to get information on how to keep their funds safe and report attempted fraud, the press release said.

The feature is designed to combat impersonation scams, in which scammers try to trick people into believing they are talking to a legitimate representative of a financial institution and then pressure them to transfer funds, authorize transactions or share sensitive information.

The threat posed by this form of fraud continues to grow as scammers use artificial intelligence-generated deepfake voices and increasingly sophisticated social engineering tactics, the release said.

As per the release, the call recognition feature is now enabled for iOS users and optional for Android users.

AD: SCROLL TO CONTINUE

“As fraudsters adopt artificial intelligence and advanced deepfake tools, we need to innovate quickly to protect our customers and stay ahead of rapidly evolving fraud threats,” Rami Kalai, head of product at Revolut, said in a press release. “This new feature not only provides users with real-time, contextual warnings when they need it most, but also guides them in identifying impersonation scams, providing clear, actionable steps to keep their funds safe when fraud attempts occur.”

The Federal Trade Commission (FTC) said in April 2025 that impersonation scams have been one of the most common forms of fraud the agency receives. In 2024, these scams cost Americans $2.95 billion.

PYMNTS Intelligence and Featurespace’s collaboration, “How Scammers Tailor Financial Scams to the Vulnerabilities of Individual Consumers,” found that phone calls were the communication channel through which the largest proportion of financial fraud victims said they were first contacted by scammers.

In December 2024, it was reported that thousands of complaints had been filed against Revolut involving authorized push payment fraud, a scam in which criminals trick people into sending money online to accounts they have no control over.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button