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PayDay News | Australian Payments News

Banking Circle customer chaos – first Binance and now Revolut’s $3m zombie PayTo fraud bungle

Editor
13 May, 2026
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Warwick Ponder
Editor
13 May, 2026
Add us as a preferred source on Google
Hundreds of zombie Revolut accounts have been used to fleece about $3 million using fraudulent PayTo requests via Banking Circle’s tech stack ... but nobody wants to talk about why it wasn't spotted sooner. The "incident" follows another Banking Circle customer - Binance - having to be unplugged unceremoniously from the New Payments Platform (NPP) in January.
Banking Circle customer chaos – first Binance and now Revolut’s $3m zombie PayTo fraud bungle
Dormant accounts come to life. Revolut’s local boss Matt Baxby (left) and Banking Circle’s Australian Chief Commercial Officer Piers Cracknell (right). Background image generated

Hundreds of zombie Revolut accounts have been used to fleece about $3 million using fraudulent PayTo requests via Banking Circle’s tech stack ... but nobody wants to talk about why it wasn't spotted sooner. The "incident" follows another Banking Circle customer - Binance - having to be unplugged unceremoniously from the New Payments Platform (NPP)…

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