Criminals targeting retirement nest eggs in latest scam trend

25 August 2026 
Scams

• NAB warns scammers are targeting Australians’ retirement savings through fake investment opportunities. 
• NAB data shows 389% increase in estimated losses from investment scams relating to superannuation. 
• Around two in three of these cases also involved cryptocurrency payments.

Australians are being warned to think twice before moving money out of their superannuation after NAB analysis revealed a sharp increase in losses linked to investment scams targeting retirement savings.

New NAB data shows estimated losses from investment scams relating to superannuation surged 389%¹ between October 2025 and July 2026, compared to the prior corresponding period, despite the volume of cases remaining largely stable.

NAB says criminals are increasingly convincing people to withdraw money from their super or investment funds and tip it into fraudulent schemes, many of which involve cryptocurrency, with around two in three of these cases also involving cryptocurrency payments.

The warning comes as investment scams continue to drive some of the highest scam losses in Australia, with the National Anti-Scam Centre reporting $878.7 million in losses to investment scams in 2025.

NAB Executive Group Investigations Chris Sheehan said scammers were increasingly chasing larger pools of money and, for many Australians, that meant their retirement savings.

"Investment scams continue to cause devastating financial harm because criminals are targeting the money people have worked decades to build," Mr Sheehan said.

“Australia’s superannuation pool is at record levels, and as more Australian’s reach retirement and begin accessing or drawing down their savings, many are actively looking for ways to grow and manage that money. Unfortunately, criminals are exploiting that interest with sophisticated investment scams designed to appear legitimate.

"We're seeing increasingly sophisticated tactics designed to convince people to withdraw funds from their superannuation, transfer savings from legitimate investments or move money into cryptocurrency under the promise of high returns."

Many scams begin with a social media advertisement, online trading platform or unsolicited message from someone claiming to be an investment expert.

According to NAB, scammers often create a false sense of urgency, promising exclusive opportunities, guaranteed returns or limited-time offers designed to pressure people into making quick decisions.

Cryptocurrency remains a common feature, with criminals frequently directing victims to convert funds into digital assets before moving the money offshore.

"Superannuation is often a person's largest financial asset outside their home," Mr Sheehan said.

"Criminals know this and are increasingly developing convincing stories to access those funds."

NAB is urging Australians to be wary of anyone encouraging them to:

• Withdraw money from their super to invest elsewhere 
• Move funds from existing investments into new opportunities 
• Purchase cryptocurrency as part of an investment strategy 
• Keep investment decisions secret from family, advisers or their bank 
• Act quickly to avoid missing out

Mr Sheehan said one of the biggest red flags was being pressured to move money urgently.

"No legitimate investment opportunity should require you to act immediately, move your superannuation into unfamiliar products or transfer funds to cryptocurrency platforms because of a limited-time offer," he said.

NAB is encouraging anyone considering a major investment decision to seek independent financial advice and speak with trusted family members before transferring money.

This Scams Awareness Week, NAB is helping Australians stay one step ahead of criminals. Visit nab.com.au/scamsawareness to watch the Scam Education Conversation and access practical tips to help protect yourself from scams.

¹NAB analysis of customer-reported investment scam cases between October 2025 and July 2026. Findings are based on a review of case notes relating to superannuation-linked scams and associated losses.