@ArmitageJim @retheauditors @premnsikka 1/ @TheFCA auth. #Emoney op (neobank) #Revolut reportedly frustrates its own board & raises eyebrows in the accounting industry after spinning a critical #BDO
#audit report as a clean bill of health (ft.com/content/9d2f61…).
2/ #Revolut published it’s 2021 audited accounts 5 months after they were originally required to be filed & 2 months after an extension to the deadline had expired. Revolut’s lawyers Schillings said there were "a range of views on the meaning of the qualified opinion".
3/ ‘Under the hood’, #Revolut has gone ‘full tonto’ on crypto, allegedly building on it’s alleged long term ‘association’ with crypto exchange #Bitstamp (which coincidentally withdrew its UK FCA crypto authorisation application - the UK is the largest crypto market in Europe).
4/ Last year (theguardian.com/money/2022/nov…) highlighted the M.O. of #APP (push payment aka #OpenBanking) scammers targeting UK victims, bypassing UK bank controls on transfers to crypto exchanges by allegedly ‘coaching’ creation of intermediate @TheFCA emoney op (eg #Revolut) accounts
5/5 Background: ‘#Revolut announces much delayed 2021 annual results’ - ; ‘#Revolut & #Bitstamp, crypto-comrades’ - .
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