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Lithuania Hits Revolut With Record €3.5M Fine For Compliance Failures

by THEFUTURE.TEAM

April 9, 2025

Revolut, the UK’s most valuable fintech startup, has been slapped with a €3.5 million ($3.83 million) fine by Lithuania’s central bank over anti-money laundering (AML) compliance failures. The penalty, announced Monday, is the largest ever imposed by Lithuania’s financial regulator, underscoring growing scrutiny of the fast-growing neobank.

Regulatory Red Flags

The fine follows a routine inspection that uncovered serious lapses in Revolut’s AML protocols, including failures in monitoring business transactions and identifying suspicious activities. According to the central bank, these deficiencies left Revolut unable to flag potentially illicit transactions properly.

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While the regulator did not specify whether actual money laundering had occurred, Revolut was penalized for procedural gaps rather than confirmed illicit activity. In response, the company emphasized that the investigation did not find any direct money-laundering violations but rather areas where its internal controls needed strengthening.

Revolut’s Response

A Revolut spokesperson stated that the firm immediately addressed the identified weaknesses and worked closely with Lithuanian regulators to reinforce its compliance framework.

“Revolut Bank is committed to the highest standards of regulatory compliance and took swift action to remediate procedural shortcomings,” the spokesperson said.

Revolut has since signed a settlement agreement with the Lithuanian central bank and implemented corrective measures to align with regulatory expectations.

A High-Stakes Fine For A High-Value Fintech

This regulatory setback comes as Revolut continues its meteoric rise in the fintech world. Valued at $45 billion following a recent secondary share sale, the London-based company has outpaced several of Europe’s biggest banks in market worth.

Despite the fine, Revolut remains financially robust, having reported a record-breaking £438 million ($559.5 million) pretax profit in 2023. However, the regulatory hit underscores the increasing pressure on fintech firms to tighten compliance as they scale globally.

With EU regulators keeping a close watch on digital banking disruptors, Revolut’s fine serves as a stark reminder: growth cannot come at the expense of regulatory vigilance.

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Sklavenitis Cyprus Sets A New Standard For Employee-Centric Benefits

by THEFUTURE.TEAM

September 12, 2025

Investing In Human Capital

In a bold move that underscores the growing importance of human capital in today’s business landscape, Sklavenitis Cyprus has taken innovative steps to ensure its workforce is both valued and supported. The supermarket chain has introduced a policy to pay a 14th salary to all employees—including those from Papantoniou Supermarkets—cementing its status as the sole retailer in Cyprus to implement such a comprehensive benefit.

A Significant Investment In People

This initiative is far from symbolic. With an estimated total cost of €2 million, it represents a committed investment in the company’s most valuable asset—its people. By providing an additional salary, Sklavenitis reinforces a culture of inclusivity and fairness, acknowledging every employee’s contribution to its success.

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Robust Benefits For Long-Term Stability

Complementary to the 14th salary, the company has launched a robust benefits program designed to address both financial and personal security. An Automatic Cost of Living Adjustment (ATA) of 12.56 per cent ensures that wages remain aligned with inflation, safeguarding real income stability for its team members.

Comprehensive Health And Life Support

Sklavenitis further enhances employee welfare through access to a Group Life and Health Insurance Plan and a Provident Fund co-funded by the employer. These measures not only provide immediate protection but also empower employees to plan confidently for the future.

Exclusive Perks And Incentives

The company extends its commitment beyond conventional benefits by offering store discounts, a birth allowance, and holiday gift vouchers valued at €100 during both Easter and Christmas. These additional perks enhance employee satisfaction and underline Sklavenitis’ people-first ethos.

A Strategy For Mutual Success

In an industry where employee engagement directly impacts customer satisfaction, Sklavenitis’ comprehensive approach stands out as both a progressive and strategic business decision. By investing in its workforce, the company not only nurtures a supportive workplace but also drives superior corporate performance, setting a new benchmark for responsible employment practices in Cyprus.