If you’ve ever felt a twinge of anxiety before clicking ‘send’ on a bank transfer, you’re not alone—and for good reason.
Scams are on the rise, and the criminals behind them are getting smarter, sneakier, and more technologically advanced by the day.
But there’s some good news for NAB customers: the bank is fighting back, and the results are impressive.
NAB’s high-tech scam shield: How it works
In just six months—from October 2024 to March 2025—NAB has managed to stop and recover more than $48 million of customers’ money from falling into the hands of scammers.
That’s nearly $2 million a week that’s been kept safe, thanks to a suite of new initiatives and a proactive approach to scam prevention.
One of the most effective tools in NAB’s arsenal is the real-time payment alert system. Almost one million of these alerts have popped up for customers right in the middle of making a transaction.
Imagine you’re about to send money, and suddenly a message appears: ‘Are you sure this isn’t a scam?’ It’s a simple nudge, but it’s making a huge difference.
In fact, after receiving these alerts, customers have abandoned more than $195 million worth of payments in just six months. That’s $195 million that never made it into the hands of criminals.
What triggers a payment alert?
NAB’s system is designed to spot red flags in real time. If you’re making a payment that’s out of character for you, or if the transaction matches patterns associated with common scams—like invoice, investment, romance, or goods and services scams—you’ll get a warning. It’s like having a digital guardian angel looking over your shoulder.
Beyond alerts: Other ways NAB is protecting you
But the bank isn’t stopping at alerts. NAB has also:
- Removed links from text messages to prevent phishing attempts.
- Blocked payments to certain high-risk cryptocurrency exchanges, a common destination for scam funds.
- Launched a major education campaign on social media and digital platforms—the very places where many scams begin.
Chris Sheehan, NAB’s Executive for Group Investigations (and a former Australian Federal Police executive), says the bank is determined to stay one step ahead.
‘Criminals are constantly changing their methods, and AI is making it even harder to tell what’s real and what’s fake,’ he explains.
‘That’s why we need to be proactive and prevent scams, rather than reacting after they’ve happened.’
Recognising the red flags: What you need to know
Education is a big part of NAB’s strategy. The bank’s latest campaign is all about helping Australians spot the warning signs of a scam. Some of the most common red flags include:
- Unexpected contact from someone claiming to be from a bank, government agency, or well-known company.
- Pressure to act quickly or secrecy about the transaction.
- Requests for payment via unusual methods, like cryptocurrency or gift cards.
- Being coached on what to say to bank staff if questioned.
Sheehan puts it bluntly: ‘These grubs are experts in socially engineering people to make the payment themselves, even coaching them on what to say when talking to our bankers.’
What happens if you’re targeted?
If you’re a NAB customer and you receive a payment alert, take it seriously. Stop and double-check everything. If you’re unsure, contact the bank directly—never use contact details provided in a suspicious message.
Here’s how NAB defines its scam-fighting actions:
- Stopping a payment: NAB intercepts the payment before it leaves their control, preventing the scam from happening.
- Recovering a payment: If the money has already left, NAB works with the receiving bank or crypto exchange to get it back.
- Abandoning a payment: You decide not to go ahead with the payment after reviewing the alert or making further enquiries.
Stay informed and stay safe
Scams are constantly evolving, and staying informed is your best defence. NAB’s Security Hub is regularly updated with the latest advice and scam alerts—well worth a bookmark.
Australia’s ScamWatch is also a great resource for staying current with the latest scams and learning how to best protect yourself and your loved ones.
Your turn: Have you been alerted?
Have you ever received a payment alert from your bank? Did it stop you from making a mistake, or have you ever been caught out by a scam? We’d love to hear your stories and tips—share your experiences in the comments below. The more we talk about scams, the harder it is for the crooks to win.
Also read: Scammed out of $10,000? One man’s story exposes a worldwide fraud ring
