Revolut Confirms Data Breach Ahead of Israeli Launch

British fintech firm Revolut has confirmed a data breach that exposed sensitive customer information to an unauthorized third party. The breach occurred after the company received fraudulent requests sent from an email domain belonging to a legitimate government authority, a company spokesperson told Reuters on Saturday. Revolut is preparing to launch operations in Israel as a "lean bank" after receiving a payment services license last year from the Israel Securities Authority, alongside other international fintech firms.

"Upon discovering the incident, we immediately blocked the address and alerted the relevant government authority, as well as law enforcement, data protection, and financial regulators," the spokesperson stated. The company emphasized that Revolut's systems and customer funds were not affected. While the exact number of affected individuals was not disclosed, TechCrunch reported that the exposed data included customers' birth dates, postal and email addresses, phone numbers, and copies of identification documents such as passports and driver's licenses.

Revolut, one of Europe's most successful fintech companies operating without physical branches, is reportedly planning a potential public offering with a valuation target of up to $200 billion.