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Story summary
- Revolut Ltd., a financial technology company, was fined €11.5 million by Italy's competition authority.
- The fines include €5 million for undisclosed costs and €5 million for unclear information about account restrictions.
- An additional €1.5 million was imposed for unclear guidance on transitioning from Lithuanian to Italian bank accounts.
- Revolut plans to appeal, says its communications are transparent, and cites past scrutiny including Lithuanian fines.
