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marketrent OP t1_jec9h38 wrote

Reply to comment by JayCroghan in It's becoming increasingly clear that fintech has a fraud problem by marketrent

FCA’s Matthew Long wrote last month that the U.K. regulator “continue to see poor financial crime controls in some payments and e-money firms.”

That same regulator just put Revolut on notice that the company may be in breach of rules that state: “All adverts and promotions for financial services must be fair, clear and not misleading.”

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JayCroghan t1_jedplzd wrote

So they’re in trouble for misleadingly advertising their products, not mass fraud. Got it. I hate Revolut but I know they do a fuck ton of KYC and AML.

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