Revolut leads all firms in fraud complaints, despite new protections for victims.
Complaints about Authorised Push Payment (APP) fraud remain the most common disputes escalated to the Financial Ombudsman Service (FOS), with digital challengers topping the tables despite new protections for victims.
According to data obtained by Which? through a Freedom of Information request, Revolut customers lodged 3,242 APP fraud complaints in 2024, more than any other provider. Monzo followed with 2,344 and Barclays with 1,704.
APP fraud occurs when victims are tricked into transferring money directly to fraudsters, often through scammers posing as trusted relatives, businesses or authorities.
Most of the 2024 complaints relate to a period before the mandatory reimbursement regime for APP fraud came into force. Launched in October 2024, the rules require sending and receiving firms to share liability 50:50 for scam losses, up to £85,000 per case.
The reforms were controversial ahead of their introduction, with some warning they could incentivise reckless behaviour or drive up fraud claims.
However, the Payment Systems Regulator’s (PSR) first review, published in May 2025, found no evidence of a spike. The regulator reported 86% of APP fraud losses were reimbursed in the opening three months of the regime, with more than £27m returned to victims.
2025 data shows the challenge continues
Despite progress, new Ombudsman figures underline the size of the problem. From January to August 2025, Revolut was again the most complained-about firm for APP fraud, with 1,875 new cases, ahead of Barclays (1,161) and Monzo (1,063).
The three firms operate at very different scales. Revolut and Monzo each have customer bases of around 12–13 million, while Barclays serves more than 20 million across.
Case outcomes also vary. Monzo has the highest uphold rate in 2025 so far, with 41% of complaints decided in favour of the customer, suggesting its users are more likely to have been wrongly denied reimbursement than rivals.
Barclays’ uphold rate stands at 31%, Revolut’s at 30%. Other providers ranked above Revolut include NatWest (35%), HSBC (34%), Lloyds (34%) and Bank of Scotland (34%).
Revolut can’t shake the fraud spotlight
While the data may partly reflect Revolut’s rapid growth and younger customer base, the fintech continues to draw scrutiny for its fraud record.
Alongside APP fraud, Revolut also recorded the highest number of non-APP fraud and scam complaints in 2025 so far, with 1,333 cases referred to the Ombudsman. Its uphold rate of 37% on non-APP disputes was also the highest among major firms.
This is not the first time Revolut’s fraud protections have been questioned. Last year, the firm was the subject of a BBC Panorama investigation into its handling of scam cases, following earlier Which? warnings about vulnerabilities.
Revolut told Payment Expert: “Each potential fraud case concerning a Revolut customer is carefully investigated and assessed independently of other cases. We also revisit liability considerations as a result of complaints wherever any errors are identified during the complaints review. Revolut takes fraud and the industry-wide risk of customers being coerced by organised criminals, incredibly seriously.
“We have robust protections in place for our millions of customers and analyse over a billion transactions a month. Our Financial Crime prevention team now makes up more than a third of our total global workforce of 10,000+ employees, and half of the data scientists at Revolut are working on Financial Crime related topics or products. We have developed sophisticated AI models capable of spotting and blocking potentially fraudulent transactions using hundreds of internal and external data points. In 2024, we prevented over £600m of potential fraud against our customers.“
