United Kingdom, March 31 -- WhatsApp could see "significant financial losses" over its latest scams.

The messaging service has been targeted by criminals multiple times in recent years, and fintech company Revolut has conducted research that revealed that more British users fell victim to con artists via the app than users from any other country in Europe.

Woody Malouf, chief of Financial Crime at Revolut, said: "WhatsApp has a fundamental responsibility to protect its users, and their current approach is clearly failing.

"The illusion of security on encrypted messaging apps like WhatsApp is being ruthlessly exploited by criminals.

"We're seeing consumers increasingly letting their guards down to messages received on WhatsApp more tha...