People familiar with the matter: Revolut is in talks with the UK FCA for allowing funds to flow from suspicious accounts

Odaily Planet Daily News Revolut is in talks with the UK’s financial regulator over allegedly allowing funds to flow out of accounts flagged as suspicious by the UK’s National Crime Agency (NCA). It is reported that the financial technology company encountered a series of problems while waiting for a British banking license. The Financial Conduct Authority (FCA), which oversees Revolut’s payments business, is approaching the company, with support from the NCA, over the alleged failures that occurred between July and August, two people familiar with the matter said. People familiar with the matter said as much as 1.7 million pounds had flowed out of the flagged accounts. One of the people said Revolut informed the FCA of the latest problems in recent weeks but claimed only £500,000 had been drained. Revolut, NCA and FCA declined to comment. (Financial Times)