Revolut Will Cover Costs for Customers Hit by Data Breach
Hey Digital Banking Fanatic!
Revolut says it will cover the cost of replacing identity documents for customers affected by its recent data breach.
Béatrice Cossa-Dumurgier, Revolut’s CEO for Western Europe, said the company will pay the associated costs if any of the affected customers need to change their IDs.
The incident involved 680 customers worldwide, after Revolut was tricked into responding to what appeared to be a legitimate request from an Italian government agency. The fake request resulted in customer information being shared, potentially including passport or driving licence copies, verification selfies, addresses, IBANs, account statements and transaction histories, including Bitcoin records.
Revolut says its own systems were not compromised and customer funds were unaffected. But the company is now taking responsibility for the practical consequences, including the cost of replacing documents if customers need to do so.
Cossa-Dumurgier also confirmed that Revolut will not pay any ransom to the attackers.
It’s an unusual outcome for a data incident, but an important one: the cost of a security failure can extend well beyond fixing the breach itself.
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