A summary of recent results on rare decays from BaBar and Belle is presented.  These include results on differences, between neutral and charged B mesons, in rates and CP asymmetry parameters for exclusive and inclusive b -> s gamma transitions and of decay-time-dependent CP asymmetry in B0 -> KS eta gamma decays.   Additionally, results of searches for lepton flavour violation in B0 -> Kstar0 mu e, and Upsilon(3S) -> mu e, and of lepton universality violation in D0 -> K pi e e, are presented.  Finally, results from a search for B decays to Lambda pbar nu nubar are also shown.