Police on Thursday were investigating a complaint by a person reporting to have been swindled out of nearly €7,000 from a caller pretending to be working with Revolut.
Authorities said the victim, a man aged 50 from Emba village in Paphos district, was scammed out of €6,860 when an unknown person called him on his phone claiming to be an employee of Revolut.
The call on the man’s phone showed up as ‘Revolut Bank’.
The caller told the man that suspicious activity had been spotted in his account, and that third parties had attempted to gain access to it.
Under the guise of ‘securing’ the man’s account, the caller asked for personal information, such as access codes.
The 50-year-old fell for the scam, believing he was speaking with a genuine company representative. He provided the data requested.
A little later, the man noticed that funds had been transferred out of his account.
Police are advising the public to never give out sensitive information such as passwords over the phone. Banks and financial institutions will never ask for access codes or PIN numbers over the phone.
Revolut works as a digital banking app offering multi-currency accounts, debit cards, and various financial tools, allowing users to spend in different currencies, send money instantly, budget, and even invest in stocks or crypto.
