Italy’s competition and consumer protection authority has fined multiple entities within the Revolut group €11.5 million (about $12.2 million) for alleged unfair commercial practices related to how the financial technology firm marketed and managed some of its services in the Italian market, according to regulatory sources.
The fine, imposed by the Autorità Garante della Concorrenza e del Mercato (AGCM), was split across three areas of alleged misconduct:
- €5 million levied on Revolut Securities Europe UAB and Revolut Group Holdings Ltd for failing to provide “clear and comprehensive information” about additional costs, limitations, and risks associated with what were presented as “commission‑free” investment services.
- €5 million on Revolut Group Holdings Ltd and Revolut Bank UAB for “aggressive practices” in handling the suspension, limitation, and blocking of payment accounts, including insufficient advance notice or guidance for customers affected by these actions.
- €1.5 million for inadequate disclosure of requirements and timelines for Italian customers seeking to switch from a Lithuanian IBAN to an Italian one.
Italian authorities said these practices had the potential to mislead consumers and micro‑enterprises, ultimately restricting their freedom of choice and access to essential financial services. Revolut has publicly stated that it disagrees with the decision and plans to appeal the fine in Italian courts.
Broader European Regulatory Context
The Italian sanction is the latest in a series of fines that reflect increasing regulatory scrutiny of fintech firms operating across the European Union. In April 2025, the Bank of Lithuania fined Revolut €3.5 million for deficiencies in its anti‑money‑laundering (AML) procedures, following a routine inspection that found gaps in how the company monitored customer relationships and transactions. Although the Lithuanian regulator did not allege confirmed instances of money laundering, the penalty highlighted weaknesses in compliance systems and required Revolut to address identified procedural failings.
These regulatory actions come amid heightened global enforcement efforts targeting financial crime, compliance, and consumer protection across both traditional and digital finance sectors. Authorities in multiple jurisdictions, including EU nations and the UK, have increasingly focused on how digital banks and payment platforms deliver services, disclose terms, and manage risk.
Revolut’s Regulatory Challenges and Responses
Revolut, founded in 2015 and headquartered in London, has grown rapidly into one of Europe’s largest fintech companies, offering a range of financial services including digital banking, trading, foreign exchange, and payments. The company operates under banking licenses in several jurisdictions, including a European license based in Lithuania and, more recently, a full UK banking licence granted in March 2026 after years of regulatory review.
While the company has defended its regulatory compliance, past enforcement actions and customer complaints have underscored ongoing challenges. In addition to the Lithuanian AML fine, Revolut faced smaller penalties earlier in the decade related to reporting shortcomings, and it has been the subject of consumer advocacy reports over fraud complaint volumes.
Revolut said that it will contest the Italian decision and maintain that customer protection remains a priority. As enforcement intensity rises across global financial markets, how rapidly digital finance firms adapt their compliance and disclosure frameworks will likely remain under close observation by regulators and industry stakeholders alike.
