Sinn Féin spokesperson on Public Expenditure and Reform, Mairéad Farrell TD, has urged people to be cautious over the Christmas period in light of a new scam which is being perpetrated on users of Revolut. 

The scam targets young people who are using taxis late at night and are under the influence of alcohol. The scam is believed to involve a gang who use a fake taxi, whose driver attempts to gain access to the victims phone and then makes fraudulent transfer payments through Revolut.

One victim was reported to have lost almost €4,000.

Teachta Farrell said:

“Last month, I raised this matter with the Taoiseach in the Dáil who said he would speak to the Central Bank. I also contacted the Central Bank and spoke to Revolut myself.

“Over the Christmas period when people are out having fun, I think it is important that everyone tries to be as vigilant as possible. 

“With so much of our banking and transfer payments capable of being done online through a click of our phone, there will always be those criminals looking to exploit this convenience for their own gain.

“Unfortunately, some victims of this particular fraud have advised me that not only were their Revolut accounts emptied but also their linked bank accounts. 

“Revolut and the banks need to ensure they have robust security procedures in place to minimise the possibility of this fraud occurring, but if it does they need to refund their customers in full.

“People should try to ensure that their phone has the necessary security checks, that they don’t give it to strangers, and that they only use licenced and regulated taxis. If anyone is the victim of fraud, they should immediately report it to the Gardaí.”