Revolut to Launch Advanced Crypto Fraud Protection Tools by 2025
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Revolut to Enhance Crypto Fraud Protection With Advanced Security Features
Global fintech platform Revolut has announced plans to roll out enhanced fraud protection measures for its crypto customers starting in 2025. The new measures, which will be implemented through the Revolut Pay product, aim to bolster security and reduce fraud exposure across cryptocurrency transactions.
Revolut Pay's enhanced due diligence system will introduce features such as know-your-customer (KYC) name matching, fraud warning screens, proof of crypto delivery, and transaction risk scores for crypto merchants. These tools are designed to ensure better transparency and risk management for users engaging in crypto-related activities.
A 12-month pilot program conducted by Revolut revealed that firms using Revolut Pay experienced a 50% reduction in fraud attempts among crypto customers. This significant decrease highlights the effectiveness of the platform's risk detection and mitigation capabilities.
With fraud prevention being a critical concern in the crypto space, Revolut's proactive approach seeks to create a safer ecosystem for both users and merchants. By leveraging advanced risk scoring and security features, Revolut Pay aims to set a new standard for fraud protection in the growing crypto industry.
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