Revolut has introduced a new in-app capability developed to safeguard users from impersonation scams, further advancing its commitment to fighting fraud.
The feature detects when a customer opens the Revolut app while on the phone, including apps enabling voice calls, and confirms whether they are or are not talking with an agent from the company.
Going further compared to similar capabilities in the market, the feature supports customers in taking the appropriate action to report attempted fraud and keep their funds safe if they are targeted.
The rise of impersonation scams
As AI-generated deepfake voices increase and social engineering tactics are getting more advanced, bad actors are finding more methods to convince consumers they are speaking to their bank or with a person they trust.
Impersonation scams deceive individuals into believing they are on a legitimate call with a financial institution or person. Additionally, criminals pressure victims into moving money to safer accounts, to share sensitive data, or to approve fraudulent transactions.
These threats are growing at a rapid pace, with scammers generating convincing scripts and synthetic voice mimics.
Revolut’s solution to fighting scams
Through this move, Revolut’s capability launches a live in-app banner that is shown when the app detects the user is on a phone call. The system automatically identifies if the call is coming directly from Revolut or from another number. Depending on the situation, the feature advises:
- If the caller is Revolut, the banner is set to confirm that the call is legit;
- If the caller is not Revolut, the customer will see a banner informing them that they are not on a call with the company;
- By tapping the banner, users benefit from actionable protection pathways based on the situation they are encountering.
The rollout follows several other similar initiatives from Revolut, with the company directing its efforts towards protecting customers from scams and unauthorised activity. Among recent launches, there were In-App Calls, Wealth Protection and Street Mode, as well as optimal machine learning systems.
At the time of writing, the new capability was active for all Revolut customers with an iOS device. When it comes to Android users, they need to proactively authorise the feature from the Security Hub.
