Revolut - How safe is your money?

Dominic Frisby explains how fraudsters used increasingly sophisticated techniques to steal thousands from one Revolut user and looks at just how safe the banking app is

Paying with credit card online with laptop
(Image credit: © Getty images)

A few weeks ago, an Irish friend of mine was contacted by the Irish Postal service. A package had arrived for her from abroad, but there were a couple of euros and change of duties to be paid. This had happened to her before - she buys a lot of stuff on the internet, clothes especially - and she duly got out her debit card and paid up.

A week or so later, she was sitting in a meeting, when she started getting updates from Revolut notifying her that money was being sent from her account to Binance, the crypto exchange.

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Dominic Frisby

Dominic Frisby (“mercurially witty” – the Spectator) is as far as we know the world’s only financial writer and comedian. He is the author of the popular newsletter the Flying Frisby and is MoneyWeek’s main commentator on gold, commodities, currencies and cryptocurrencies. He has also taken several of his shows to the Edinburgh Festival Fringe.

His books are Daylight Robbery - How Tax Changed our Past and Will Shape our Future; Bitcoin: the Future of Money? and Life After the State - Why We Don't Need Government

Dominic was educated at St Paul's School, Manchester University and the Webber-Douglas Academy Of Dramatic Art. You can follow him on X @dominicfrisby