Revolut fined €3.5m by Lithuania for lax anti-money laundering controls

10:18 - 11 April 2025

Financial Services

Revolut, the London-headquartered FinTech giant, has been fined €3.5m by Lithuania’s central bank for deficiencies in its anti-money laundering (AML) controls. This penalty marks the largest ever imposed by the Lithuanian regulatory authority.

According to a Reuters report, the fine was levied following a routine inspection which highlighted significant lapses in the company’s monitoring of business relationships and transactions. According to the central bank’s findings, Revolut occasionally failed to identify suspicious monetary operations effectively. Despite these issues, no confirmed instances of money laundering were detected during the investigation.

“Revolut Bank is committed to the highest standards of regulatory compliance and cooperated with the [Lithuanian central bank] in taking immediate action to address the procedural deficiencies,” a spokesperson for Revolut stated.

In response to the regulatory findings, Revolut has entered into a settlement with the central bank and has initiated measures to amend the noted shortcomings. The size of the fine was determined based on the severity of the compliance failures and the revenue figures of Revolut Holdings Europe, which oversees the company’s regulated operations within the European Economic Area.

Recently, Revolut achieved a valuation of $45bn through a secondary share sale to new and existing investors, underlining its significant market value which now surpasses that of many major European banks.

Revolut fined €3.5m by Lithuania for lax anti-money laundering controls

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