The FCA is talking to Revolut about alleged failure that occurred between July and August and saw as much as £1.7 million released, says the FT, citing two people familiar with the situation. Revolut told the FCA about the issue recently but says that only £500,000 was released from the suspicious accounts. The latest brush with regulators comes as Revolut continues its two-year-plus wait for a UK banking licence, with the lengthy process attributed by some to concerns at the FCA over auditing, compliance and corporate culture issues. Last month it emerged that the company will delay filing its annual accounts for a second consecutive year. The 2021 accounts were finally filed this March but auditor BDO flagged concerns that it could not verify £477m of revenue, nor vouch for their “completeness or occurrence”, due to the configuration of Revolut’s internal IT systems.