The financial services provider, Revolut, has added a new feature within its application to protect users from impersonation scams.
The Detection Mechanism
This innovative tool monitors instances where an individual uses the Revolut app during a phone conversation. Specifically, it checks if the call is originating from a Revolut agent or another number.
- If the caller is identified as a Revolut employee, the application displays a banner confirming the legitimacy of the call.
- In cases where the caller is not associated with Revolut, the app alerts the user that they are not speaking to an official representative of the company.
- Users can tap on the banner for further guidance and potential protective measures tailored to their situation.
The Growing Threat of Impersonation Scams
In recent years, there has been a significant rise in impersonation scams, driven by advancements in AI-generated voice technology and sophisticated social engineering tactics. Such scams are designed to trick individuals into believing they are communicating with legitimate entities like their bank or trusted contacts.
Criminals often manipulate these scenarios to extract financial information or prompt victims to transfer funds to different accounts, thereby facilitating fraudulent transactions.
Revolut’s Approach
Through this update, Revolut has taken a proactive step in safeguarding its user base. The new feature automatically pops up on iOS devices and requires users on Android devices to manually enable it within the Security Hub settings.
