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Revolut will cover costs for customers hit by data hack, Western Europe CEO says - Finance news and analysis from Global Banking & Finance Review
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Revolut will cover costs for customers hit by data hack, Western Europe CEO says

Published by Global Banking & Finance Review

Posted on October 7, 2026

2 min read

· Last updated: October 7, 2026

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Revolut to Pay Customer ID Costs After Data Breach Involving Government Email

Revolut Responds to Data Breach Incident

By Elizabeth Howcroft

Details of the Data Breach

PARIS, Oct 7 (Reuters) - Revolut will cover the cost of customers wanting to change their identity documents after the London-based bank was tricked into giving hackers the data of hundreds of customers, the company's CEO for Western Europe said on Wednesday.

Revolut, Europe's most valuable startup, said it had sent the customers' personal data to hackers who had taken control of an Italian government agency email address, in an incident first disclosed last month. 

Company Response and Customer Support

Béatrice Cossa-Dumurgier, Revolut's CEO for Western Europe, told BFM TV in an interview that the company would not pay ransoms to hackers, when asked if they had paid one. Revolut previously said it had not received a ransom demand.

Cossa-Dumurgier said Revolut had provided assistance for the 680 affected clients, 55 of whom are in France.

"If they ever have to change their ID documents, we're taking care of the associated costs", she added, without specifying whether this had happened yet or how much it could cost the company.

Legal and Regulatory Context

Financial institutions are required to send customer data to authorities when asked to do so as part of investigations into potential crimes.

Government and Security Reactions

Matteo Piantedosi, Italy's interior minister, told lawmakers on September 30 that the email address to which Revolut sent customer data came from the Reggio Calabria police's email system, but was an address that had never been used before.

Revolut could have and should have verified the request by doing minimal due diligence, the minister said.

A spokesperson for Revolut declined to comment on the interior minister's remarks.

Cossa-Dumurgier said that government agencies are sometimes the "weak link" in the system and that Revolut's own systems had not been compromised.

Reporting Credits

(Reporting by Elizabeth Howcroft in Paris, additional reporting by Valentina Za in Milan; editing by Barbara Lewis)

Key Takeaways

  • Around 680 customers had sensitive personal and financial data disclosed due to fraudulent government‑looking requests via a compromised Italian institutional email account. (reqport.com)
  • Revolut confirmed it will cover all associated costs for replacing identity documents, though no ransom was paid and the company said its own systems and customer funds were unaffected. (reqport.com)
  • The incident spotlighted the growing regulatory scrutiny of fintechs amid Revolut’s rapid expansion and high valuation — estimated at $115 billion as Europe’s most valuable startup in October 2026. (investing.com)

References

Frequently Asked Questions

What caused the Revolut data hack?
Hackers controlled an Italian government email and tricked Revolut into sending customer data.
How many customers were affected by the breach?
680 customers were affected, with 55 of them in France.
Will Revolut cover the cost of changing customer ID documents?
Yes, Revolut's Western Europe CEO said the company will pay costs for customers needing new ID documents.
Did Revolut pay a ransom to the hackers?
No, Revolut stated they had not received a ransom demand and will not pay ransoms to hackers.
Was Revolut's internal system compromised?
No, the CEO said Revolut's own systems were not compromised; the breach exploited a government email system.

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