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Tuesday, the Financial Times reported that Revolut had informed the authorities of the money laundering of the company a few months ago
The foreign media not only congratulated the company for his responsibility – an independent report to the services reflects the serious appreciation of money laundering.
Critics have raised the question of how a small business can meet stringent requirements – providing adequate protection against financial crime when its business grows very rapidly.
Revolut applied for a banking license from the Bank of Lithuania. An EU company will continue as a bank. The response to the Revolut license should be received in the autumn
The representatives of Revolut 15min ensured the operation of a "single algorithm" that replaces the living workers. This week's machine learning algorithm ( machine learning ) allows for quick and accurate prevention and prevention of money laundering several hundred times.
The company also announces that 35% Reduction of fraud by online shopping and the number of cards. This was achieved by the use of single-use virtual cards delivered in March
The compliance system developed by Revolut Engineers compliance establishes the credibility of the customer and his individual billing limits based customer transactions. 19659002] "When opening an account, all clients must provide strict help with a strict, but convenient process, called" Know Your Customer ", which only takes a few minutes to perform a check staff. all received a lump sum supplement to the account, which could be improved with proof of origin. From now on, each user will be badigned an individual limit by evaluating their operations. This means that for most customers it will be easier to use, "explains Andrius Bičeika
Business Development Manager, who personally evaluates more than two million customers – a risk profile is created and updated in time. real. users
"Such a system for the prevention of money laundering and terrorist financing in the financial world is a complete novelty: all client profiles will be presented visually and in a very practical way – the perceived information can be understood in a few seconds and the collection and systematization about an hour, "says A. Bicheika
The evaluation includes a customer account, operations, related external accounts, ATMs, suppliers, physical and online. Revolut promises to enable the system to detect and disrupt patterns and networks of dangerous transactions.
A.Bicheik provides Revolut customers with regular payments over the Internet by creating a single, single-use virtual card – once they have been made available. they were used once, no rogue will be able to use it for the second time.
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