Australians need to be on the lookout for artificial Intelligence (AI)-driven scams and a new-level of dodgy cryptocurrency investment offers this year.
In a warning to customers, the NAB said everyone needed to be aware of the next generation of scams in order to see the red flags.
NAB Group Investigations Executive Chris Sheehan said the bank had identified five scams to watch based on current trends and what was being reported by customers.
Mr Sheehan, a former member of the Australian Federal Police, said the “scamscape” was constantly evolving.
He said the big five scams Aussies should watch out for in 2025 were:
- AI-powered scams.
- Cryptocurrency investment scams.
- Bucket list scams.
- Remote access scams targeting businesses.
- Phishing scams
“Every Australian needs to know about these scams so they can recognise the red flags and protect themselves and their loved ones in 2025,” Mr Sheehan said.
He said there were common red flags among the different scams.
“Criminals create urgency to act quickly. It could be creating FOMO (fear of missing out) that resold concert tickets will go quickly, that’ll you miss the next big crypto investment opportunity or that there’s a problem with your bank account and you need to move your money elsewhere,” he said.
“Another common red flag across different scam types is that the contact is unexpected. For example, an out-of-the blue phone call from an ‘internet provider’ to fix your connection.”
Mr Sheehan said once funds were sent it was often very hard to recover money.
“Criminals quickly send it to overseas accounts or to cryptocurrency platforms knowing it makes it harder to retrieve.
“That’s why we need all parts of the scam ecosystem taking action to stop the crime before it happens.”
He said AI could be used in all different scam types.
“Criminals are using AI to create deep fake videos impersonating high profile Australians and create images used in sextortion,” he said.
“Three seconds of audio from a video or a voicemail or an image from social media is enough for criminals to get to work.”
