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Explainer – five scams to watch in 2025

  • Scams

NAB shares the five scams to watch out for in 2025, including AI-powered scams and bucket list scams.

  • 08.01.2025
  • Time to read 1 min read
  • Published on 08.01.2025
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A new year means new scams. NAB’s experts have identified five key scam trends all Australians need to know about in 2025 so they can recognise the red flags and protect themselves. Read more below.

Common red flags

While scams are always evolving, there are common underlying red flags across these five scam trends to look for.

  • Unexpected contact via phone call, text message, social media, messaging apps or email
  • Sense of urgency to make a payment, or avoid a problem like having explicit images shared, or missing out on an investment opportunity or items in hot demand
  • Requests to transfer money to a ‘safe’ account
  • Consequences if you don’t take action
  • Opportunities or prices sounding too good to be true
  • Requests to give someone access to your device or download apps or software
  • Being directed to click a link via a social media ad or sponsored search result
  • Spelling mistakes in text messages, emails and URL addresses and face and mouth movements in a video don’t match the speech, or have unusual pauses, pitch or multiple accents.
illustration in blue with the words AI

AI-driven scams

How the scam works

One of the most common uses of AI by criminals is scams impersonating Australians politicians and personalities spruiking an opportunity or product on social media.

These scams are created with deepfakes – lifelike impersonations of real people generated by AI – which can be generated with just three seconds of audio or an image from a social media profile, voicemail or video on a website.

NAB Executive, Group investigations Chris Sheehan said AI allowed criminals to ‘nudify‘ and manipulate photos from social media instead of relying on images people have shared with them.

“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.”

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.
graphs showing the movement of stocks or money on a black background

Cryptocurrency investment scams

How the scam works

Criminals are keen to exploit the fear of missing out around cryptocurrency’s increasing value. They socially engineer people to ‘invest’ via fake crypto trading apps and fraudulent websites but there’s no legitimate portfolio.

You may see small profits or be able to withdraw a small amount of money 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.

“Older Australians may not be as familiar with the digital currency and terms like digital wallets and tokens, while under 50s are the fastest growing age group to lose money nationally to crypto investment scams,” Mr Sheehan said.

Criminals continue to target customers with term deposit investment scams as cost-of-living pressures remain front of mind for many Australians.

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 searching the offer and word “scam”.
  • Search ASIC’s investor alert list, which includes suspicious companies, businesses and websites.
globe of the world with pins stuck in it

Bucket list scams

How the scam works

International music acts playing in Australia and new visa requirements for Europe 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 doesn’t 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 don’t exist.
computer screen showing a fake NAB Internet Banking screen operated by criminals

Remote access scams targeting businesses

How the scam works

Remote access scams remain among the top scams NAB customers report and often start with a phone call impersonating a well-known bank, telco, tech company or government department. 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.

The criminals then direct people to download an app or software, giving them remote access to your computer so they can access your online banking or other personal information.

Mr Sheehan said criminals could steal significant amounts of money in minutes via remote access.

“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.
image of hand holding mobile phone with red exclamation mark hovering over it

Phishing scams

How the scam works

Phishing remains a favourite for criminals. Using a spray and prey technique, criminals contact Australians via text, email or phone pretending to be from a trusted organisation like a bank, telco, government department or even family and friends.

“An emerging trend is text messages urging people to use their supermarket or similar retail rewards points before they expire. These heartless criminals are preying on cost-of-living pressures,” Mr Sheehan said.

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.

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For all media enquiries, please contact the NAB Media Line on 03 7035 5015

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