- Customer scam reports increase, but losses decrease for two straight quarters
- Bank initiatives focus on increasing ability to prevent suspicious payments
- New ads highlight the split second when a scam can occur
NAB’s payment alerts have seen customers abandon more than $100 million in payments in the 15 months since the initiative was introduced to digital banking, new insights reveal.
The alerts target invoice, investment, romance, and goods and services scams in the NAB app and internet banking.
Customers may receive an alert if a payment appears out of character for them or raises scam concerns and are designed to encourage them to stop and check.
The insights come as NAB launches the latest version of its ‘Red Flags’ campaign on social media, online channels and outdoor billboards highlighting the moment a customer reconsiders a payment after receiving a payment alert as they prepare to pay an invoice.
NAB Executive Group Investigations Chris Sheehan said recognising the red flags of scams was critical to stopping the crime.
“Scams are a global epidemic. We have to make Australia a harder place for these criminals to be successful,” Mr Sheehan said.
“Stopping the crime before it happens is the only way we can stop scammers targeting Australians.
