Last week, The Telegraph reported that Revolut's Chief Financial Officer Peter O'Higgins had resigned following a money laundering controversy. The company admitted that the they had issues with the roll-out of a new sanction screening system last year but that it did not result in a money-laundering breach.
In a statement, Revolut's CEO & co-Founder Nik Storonsky said: "Unfortunately, the news of Peter's decision to resign was caught up in the above recent media coverage on our compliance enhancement roll-out. Any suggestion that Peter's resignation is in any way, shape or form connected to this roll-out is utterly false and damaging. Peter has since expressed to me that he has been hurt by this suggestion and sad that his departure has been tainted in this way."
Peter O'Higgins had been with Revolut for three years where he scaled operations and grew the team from 20 to over 800 people. Revolut recently raised $500 million from SoftBank valuing the company at more than $2 billion.