On April 8, 2025, Revolut, the UK-based digital banking giant, was hit with a €3.5 million fine by the Bank of Lithuania (Lithuanian Financial Crimes Investigation Service (FCIS)) for serious deficiencies in its anti-money laundering (AML) controls. This enforcement action reverberated across the global fintech industry, sending a strong message: regulatory leniency for digital-first companies is over.
According to the FCIS report, Revolut failed to adequately monitor high-risk transactions and did not maintain robust internal controls to detect and report suspicious activity. The fine underscores the increasing expectations regulators have placed on financial technology companies, especially those operating at scale across multiple jurisdictions.
Fintechs often prioritize growth and user acquisition, sometimes at the expense of regulatory compliance. However, this case clearly shows that scaling without a solid compliance backbone is a recipe for reputational and financial disaster. The days of “compliance-lite” are gone—regulatory bodies are now holding fintechs to the same standards as traditional banks.
Revolut’s case is particularly noteworthy due to its aggressive international expansion and multi-asset offerings, including crypto. It highlights a common risk vector: insufficient AML and Know Your Customer (KYC) rigor for onboarding customers and monitoring complex, high-volume transactions.
Finassent urges fintechs to reevaluate their AML frameworks, especially if they are dealing with cross-border services or crypto integration. Leveraging modern compliance technologies, such as real-time monitoring systems and automated customer due diligence tools, can help prevent such lapses.
For early-stage fintechs, embedding compliance into the product lifecycle from day one is no longer optional—it’s existential. As regulators sharpen their tools and broaden their jurisdictional scope, fintechs must ensure that innovation does not outpace governance.
Source: Resolutions of the Board of the Bank of Lithuania: The Bank of Lithuania has concluded an administrative agreement with Revolut Bank UAB
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