Lithuania’s central financial institution has fined Revolut, a British
fintech firm, 3.5 million euros ($3.83 million) for failures in
money-laundering prevention.
The nice adopted a routine inspection that discovered points
with Revolut’s monitoring of enterprise relationships and operations. These
points led to the corporate failing to correctly determine suspicious transactions,
in keeping with the central financial institution’s assertion, Reuters reported.
Lithuania Points Document Wonderful to Revolut
Revolut has said that the investigation didn’t affirm
any cash laundering and that the findings had been associated to enhancements in
present controls. The corporate emphasised its concentrate on regulatory
compliance and has cooperated with the Lithuanian central financial institution to deal with the
points.
The nice, the most important ever issued by the Lithuanian central
financial institution, displays the severity of the violations and the revenues of Revolut
Holdings Europe, the corporate’s holding entity for regulated operations within the
European Financial Space. Revolut was valued at $45 billion in August and reported a
document pretax revenue of 438 million kilos ($559.5 million) in 2023.
Revolut slapped with €3.5M nice by Lithuania’s central financial institution over cash laundering prevention failings https://t.co/evuZ0MMxJi pic.twitter.com/OkSrfGovTt
— Tech.eu (@tech_eu) April 8, 2025
Chances are you’ll discover it fascinating at FinanceMagnates.com: Revolut’s
Evolution—From Fintech Maverick a UK Banking Behemoth?
Revolut and Visa Oppose UK’s Proposed Interchange Price Cap
Revolut, in collaboration with Visa, is
difficult the UK Fee Programs Regulator (PSR) over proposed caps on
interchange charges. The businesses argue that these caps would hurt competitors
and hinder innovation throughout the fintech sector.
Each corporations contend that the PSR’s choice is pointless
and will have unfavorable results on customers and companies. Revolut claims the
regulator’s transfer might drive banks to chop rewards packages or introduce new
charges to compensate, finally impacting customers. Visa additionally warns that limiting interchange payment income might
stifle competitors and hinder fintech progress.
This text was written by Tareq Sikder at www.financemagnates.com.
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