NAB welcomes ABA Scam-Safe Accord



NAB today welcomed the release of the Australian Banking Association (ABA) Scam-Safe Accord as part of ongoing efforts to tackle the scam epidemic targeting Australians.

NAB Executive Group Investigations and Fraud, Chris Sheehan, said the initiative was another important action in the fight against scammers.

“We’re in the middle of a global scam epidemic and while there is no silver bullet, we need to make it as hard as possible for these criminals to be successful,” Mr Sheehan said.

“As an ABA member, we’ve played an active role in the development of the Scam-Safe Accord and believe it will provide a framework for the banking industry to help protect Australian consumers and small businesses from this global crime wave. The significant industry investment into a new confirmation of payee system will play an important role addressing business email compromise scams.

“NAB has a comprehensive bank-wide strategy in place, with new initiatives completed this year helping reduce the impact of scams and fraud on our customers. Over the past two years, we have prevented or recovered more than $200 million in scam loses for our customers.

“Removing links from text messages and introducing payment alerts to digital banking to encourage customers to pause before hitting send on a payment are just some of the measures we’ve introduced that are making a real difference for our customers.

“We need to stop the crime before it happens. That requires a coordinated, national effort across business sectors, governments, and the community to make it as hard as possible for these criminals to take Australians’ hard-earned money.

“We know that there is more to do and we will continue to take action.”

More information about the ABA Scam-Safe Accord can be found here.

Background information:



Media Enquiries

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

Related Articles

  • Customers

Getting the basics right for customers, industry and community

NAB CEO Ross McEwan delivered a speech at an ABA and TTBC event about strengthening the banking industry and delivering for customers.

  • 22.02.2024
  • Time to read 1 min read
  • Scams

NAB warns social media ticket selling scams could make for a cruel summer

Music fans desperate to attend sold out concerts are being warned about criminals hacking social media accounts and selling bogus tickets to the victim’s unwitting friends.

  • 13.02.2024
  • Time to read 3 min read
  • Scams

Romance scams on the rise: NAB shares top tips to avoid more than a broken heart

On the eve of Valentine’s Day, Aussies are being warned to remain vigilant for scammers, with NAB data revealing the number of customers reporting a romance scam has increased 29% year-on-year.

  • 08.02.2024
  • Time to read 4 min read

Quick links

National Australia Bank — NAB

Sometimes When The Unexpected Happens, We Realise What We Truly Value. Whether A Home, Farm, Business Or Your Passion, NAB Is Here To Support You.

Business Research and Insights

For more business news and analysis, visit NAB’s Business Research and Insights.