Revolut reports suspected money laundering on its system

https://www.ft.com/content/6805af9a-8925-11e8-bf9e-8771d5404543

Without the paywall

But to be honest, I cant find anything out of the ordinary here.

I agree. Looking at their growth rate I’d have been surprised if no suspected transactions turned up.

What is a bit concerning is that Revolut are looking to fill the post of Head of Compliance for the 3rd time this year. There needs to be some stability in that department.

Not only in that department :slight_smile:

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Further report in the main English language news portal in Malta (main article is by Reuters). Interesting that some figures and trigger points get mentioned:

I think it’s a good new and it will show authorities that :r: is ready for its Banking Licence…

Money laundering is a problem of course, but 99.999999% have to suffer basically a paranoid attitude towards bigger transfers that are completely legal and yearly limits.

Money Laundering is not a problem, it’s illegal.