Australians are becoming increasingly savvy at spotting scams, but fraudsters are tipped to change their tactics in 2025 to dupe their targets.
Chris Sheehan, National Australia Bank’s group investigations executive, has outlined five new scams to watch out for based on emerging trends the bank has seen in its customer reports.
‘Every Australian needs to know about these scams so they can recognise the red flags and protect themselves and their loved ones,’ the former Australian Federal Police officer said.
Emails and texts filled with spelling and grammar mistakes, along with obviously fake link addresses, used to be an easy way to identify scam messages.
An improvement in the quality of these messages, cleverly constructed links and even websites that replicate the genuine article are now making them harder to spot.
Mr Sheehan said there are also a new wave of AI-powered scams targeting Australians, scams that pitch cryptocurrency investments, and what he terms ‘bucket list’ scams that offer once-in-a-lifetime experiences.
‘Criminals create urgency to act quickly. It could be fear of missing out that 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,’ Mr Sheehan said.
‘Once funds are sent it’s often very hard to recover money, despite our best efforts. Criminals quickly send it to overseas accounts or to cryptocurrency platforms knowing it makes it harder to retrieve. Which is why it’s important to catch it quickly.’
Chris Sheehan is National Australia Bank’s group investigations executive and previously worked for the Australian Federal Police
NAB has analysed customer reports of scams and have outlined five to watch out for in 2025
AI-powered scams
A common uses of artificial intelligence by fraudsters is scams impersonating Australian politicians or famous personalities spruiking an opportunity or product on social media.
These scams use deepfake technology, which is lifelike impersonations of real people generated by computer.
Fake voice messages can be made using just three seconds of genuine audio or fake photos or videos made using just one image from a social media profile or a video on a website.
‘While we haven’t had any reports of our customers being impacted by sextortion using AI-generated images, we’re watching this issue overseas given sextortion can have devastating consequences,’ Mr Sheehan said.
How to protect yourself:
- Treat investment opportunities backed by high profile figures with scepticism and do your own research.
- Access investment opportunities via details you’ve found and verified yourself rather than clicking on ads on social media or sponsored search listings.
- If you aren’t sure about the legitimacy of a payment request, call the person back – even if you know them – directly using details you found yourself.
- Set your social media profile to private and review friend requests and connections.
- Stop all contact if someone threatens to release images if you don’t make a payment. Report the matter to the e-Safety Commissioner, and your bank if you have sent a payment.
Cryptocurrency investment scams
Scammers can create urgency around cryptocurrency by saying it was about to leap in price and they need to get in now.
They socially engineer people to ‘invest’ via fake crypto trading apps and fraudulent websites but there’s no legitimate portfolio.
Crypto scams offering opportunities to get in on investments before they skyrocket are targetting Aussies (stock image)
Small profits or being able to withdraw a small amount of money is used as a way for criminals to build trust.
But, when you try to withdraw your money, you’re met with fees, tax issues or being locked out of the account.
How to protect yourself:
- Confirm the person you’re talking to has an Australian Financial Services (AFS) license and contact them on details you’ve found independently.
- Look for the cryptocurrency exchange’s registration number on its website. Digital currency exchanges in Australia must be registered with AUSTRAC.
- Look for reviews of the investment offer and company, including search the offer and word ‘scam’.
- Search ASIC’s investor alert list, which includes suspicious companies, businesses and websites.
Bucket list scams
International music acts playing in Australia and new visa requirements for Europe, such as the Electronic Travel Authorisation required for the UK from January 8, can create opportunities for buying and selling scams around bucket list moments.
A large number of all buying and selling scams customers report are linked to social media or digital platforms, reinforcing the need for a co-ordinated national approach to stopping scams.
The customer may pay for an item that does not exist or, if something arrives, it is random or counterfeit. Other variations involve paying an inflated price for a legitimate product or service.
‘We anticipate ticket scams when Oasis and Metallica tour, similar to those seen with Taylor Swift and Coldplay in 2024,’ Mr Sheehan said.
How to protect yourself:
- Look for sold out tickets through official resellers, instead of on social media.
- If possible, pick up the phone and talk to the seller or organisation directly before sending money.
- Review the seller or organisation’s social media profile in detail to see when it was created, how active they are and if they have any reviews.
- Do a reverse image search. If you see the same image of tickets, visa authorisations or proof of purchase on other websites, it’s probably a scam.
- Consider how you pay. Private sales offer limited, if any, protection if the items aren’t genuine.
Remote access scams targeting businesses
These remain among the top scams NAB customers report.
A phone call impersonating a well-known bank, telco, tech company or government department is the stepping stone and they often deliberately target older Australians.
An emerging trend is criminals calling business customers impersonating NAB and spinning a story that there’s a new chat bot or version of NAB Connect, or an issue that they can help you fix.
They then direct people to download an app or software, giving them remote access to a computer so they can access online banking or other personal information.
Scammers target businesses by impersonating telcos, banks or the government (stock image)
‘We anticipate criminals will continue to target Australian consumers and businesses with remote access scams in 2025. Losses often run into tens of thousands of dollars, compared to other scams where the criminals might net $500 or $1,000,’ he said.
How to protect yourself
- Never give an unexpected person remote access to your computer or online bank accounts.
- Never share any SMS codes your bank has sent.
- If you aren’t sure if contact is legitimate, hang up or delete the text message or email. Contact the organisation using details you have found yourself.
- Update computer software and apps regularly.
Sophisticated phishing scams
Phishing scams send out huge numbers of fake messages with scammers counting on getting a few ‘bites’.
They content of messages and their appearance of making them harder to differentiate from genuine messages.
They remain one of the most popular types of scams among criminals.
‘An emerging trend is text messages urging people to use their supermarket or similar retail rewards points before they expire.
How to protect yourself:
- Be very suspicious of unsolicited contact. If in doubt, delete it or hang up.
- Know NAB will never ask you to provide your personal or banking information through a link.
- Know NAB will never send you an unexpected text message with a link in it.
- Keep your phone and computer updated with the latest version of apps and trusted anti-virus software.
