NAB stops and recovers more than $48 million in suspected scams

Feature image above: Scam Alert Warning with Cybersecurity Icons. Man holding smartphone while using laptop, warning sign for scams with icons online threats, phishing, cybersecurity, Unknown person, suspicious scammer.

29 May 2025
Cyber Security  Scams

• Almost one million payment alerts received by customers mid transaction
• Range of initiatives in place to reduce scams and help customers recognise red flags
• Education campaign on social media and digital platforms where scams often start

NAB has stopped and recovered almost $2 million a week of customers’ money ending up in the hands of scammers in the six months between October and March.

As criminals continue to target Australians with scams, payment alerts in the NAB app and Internet Banking, removing links from text messages and blocking payments to some high-risk cryptocurrency exchanges are helping protect customers and identify red flags before funds are sent.

NAB Executive, Group Investigations Chris Sheehan said criminals continued to change their methods and AI was making it harder to separate real from fake.

“That’s why we need to be proactive and prevent scams, rather than reacting after they’ve happened,” Mr Sheehan, a former Australian Federal Police executive, said.

“We’re continuing to invest to reduce the impact of scams. We stopped and recovered more than $48m of customers’ money from being sent to scammers between October 2024 and March 2025.”

NAB payment alerts are a key tool helping customers in the moment they’re making a digital payment.

“In addition to the $48 million+ in stopped and recovered scam payments, customers have also abandoned more than $195m worth of payments in that same, six-month period, after receiving a real-time payment alert,” Mr Sheehan said.

The alerts target invoice, investment, romance, and goods and services scams. Customers may receive one if a payment appears out of character for them or raises scam concerns.

The insights coincide with NAB’s latest campaign, which highlights common scam red flags on the social media platforms, websites and apps where they can begin.

The campaign is supported by a broader brand messaging spotlighting NAB Secure—NAB’s enterprise-wide ambition to help protect customers from scams and fraud through education, technology, and real-time support.

Mr Sheehan said it was critical Australians knew how to recognise key red flags like unexpected contact and pressure to act as organised criminals continuously found new ways to rip people off.

“These grubs are also experts in socially engineering people to make the payment themselves, including coaching about what to say when talking to our bankers,” he said.

“We can, and will, do more to help drive these criminals out of Australia.”

• Stopping a payment is defined as NAB stopping a payment before it leaves NAB’s control thereby preventing the fraud or scam from occurring.
• Recovering a payment is defined as NAB recovering a customer’s funds after the payment has left NAB’s control. Typically, this involves NAB engaging with the receiving financial institution or crypto exchange.
• Abandoning a payment is defined as the customer decides not to proceed with a payment after making enquiries or reviewing details of the payment.
• Stay up to date with the latest scams and fraud advice available on NAB’s Security Hub