Australians are becoming more adept at spotting scams, but scammers are expected to change their tactics in 2025 to trick their targets.
Chris Sheehan, group investigations executive at National Australia Bank, 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 recognize the warning signs and protect themselves and their loved ones,” the former Australian Federal Police officer said.
Emails and text messages filled with spelling and grammatical errors, along with obviously fake links and addresses, used to be an easy way to identify fraudulent correspondence.
An improvement in the quality of these messages, cleverly constructed links and even websites that replicate the genuine article make them now more difficult to detect.
Sheehan said there is also a new wave of AI-powered scams targeting Australians, scams promoting cryptocurrency investments and what he calls “wish list” scams offering once-in-a-lifetime experiences.
‘Criminals create urgency to act quickly. “It could be the fear of missing out on the concert tickets, that they’ll sell out quickly, that you’ll miss out on the next big cryptocurrency investment opportunity, or that there’s a problem with your bank account and you need to move your money elsewhere,” Sheehan said.
‘Once funds have been sent, it is often very difficult to recover them, despite our best efforts. Criminals quickly send it to offshore accounts or cryptocurrency platforms knowing it makes it difficult to recover. That is why it is important to detect it quickly.”
Chris Sheehan is the group investigations executive at National Australia Bank and previously worked for the Australian Federal Police.
NAB has analyzed customer scam reports and outlined five to watch out for in 2025
AI-powered scams
A common use of AI by scammers is scams posing as Australian politicians or famous personalities taking advantage of an opportunity or product on social media.
These scams use deepfake technology, which are realistic computer-generated imitations of real people.
Fake voice messages can be created using just three seconds of genuine audio or fake photos or videos made using just a picture from a social media profile or a video on a website.
“While we have not received any reports that our clients have been affected by sextortion using AI-generated images, we are seeing this issue overseas, as sextortion can have devastating consequences,” Sheehan said.
How to protect yourself:
- Treat investment opportunities endorsed by high-profile figures with skepticism and do your own research.
- Access investment opportunities through details you’ve found and verified yourself rather than clicking on social media ads or sponsored search listings.
- If you are unsure of the legitimacy of a payment request, call the person (even if you know them) again directly using the details you found yourself.
- Set your social media profile to private and review friend requests and connections.
- Stop all contact if someone threatens to post images if you don’t make payment. Report the matter to the eSafety Commissioner and to your bank if you have sent a payment.
Cryptocurrency investment scams
Scammers can create urgency around cryptocurrencies by saying that they were about to go up in price and that they need to get in now.
They socially engineer people to “invest” through fake cryptocurrency trading apps and scam websites, but there is no legitimate wallet.
Crypto scams offering opportunities to make investments before they skyrocket are targeting Australians (file image)
Criminals use small profits or the ability to withdraw a small amount of money as a way to build trust.
But when you try to withdraw your money, you run into fees, tax issues, or are locked out of your account.
How to protect yourself:
- Confirm that the person you are speaking to has an Australian Financial Services (AFS) license and contact them with any details you have found independently.
- Look for the cryptocurrency exchange’s registration number on its website. Digital currency exchanges in Australia must be registered with AUSTRAC.
- Search for reviews of the investment offering and the company, including searching for the offering and the word “scam.”
- Search ASIC’s investor alert list, which includes suspicious companies, businesses and websites.
Wish List Scams
International musical acts performing in Australia and new visa requirements for Europe, such as the Electronic Travel Authorization required for the UK from January 8, can create opportunities for buying and selling scams around moments of the wish list.
A large number of all buying and selling scams reported by customers are linked to social media or digital platforms, reinforcing the need for a coordinated national approach to stopping scams.
The customer may pay for an item that doesn’t exist or, if something arrives, it is random or fake. Other variations involve paying an inflated price for a legitimate product or service.
“We anticipate ticket scams when Oasis and Metallica tour, similar to what will be seen with Taylor Swift and Coldplay in 2024,” Sheehan said.
How to protect yourself:
- Look for sold out tickets through official resellers, rather than on social media.
- If possible, pick up the phone and speak directly to the seller or organization before sending money.
- Review the seller or organization’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 authorizations, 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 are not genuine.
Remote Access Scams Targeting Businesses
These continue to be among the top scams reported by NAB customers.
A phone call posing as a bank, telecommunications company, technology company or well-known government department is the springboard and they often deliberately target older Australians.
An emerging trend is criminals calling business customers impersonating NAB and telling a story that there is a new chatbot or a new version of NAB Connect, or a problem 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 attack companies by posing as telecommunications companies, banks or the government (file image)
“We anticipate criminals will continue to target Australian consumers and businesses with remote access scams in 2025. Losses often run into the tens of thousands of dollars, compared to other scams where criminals can make profits of $500 or $1,000. dollars,” he said.
How to protect yourself
- Never give an unexpected person remote access to your computer or online bank accounts.
- Never share any SMS code sent by your bank.
- If you’re not sure if the contact is legitimate, hang up or delete the text or email. Contact the organization using the data you have found yourself.
- Update your computer software and applications regularly.
Sophisticated phishing scams
Phishing scams send a large number of fake messages and scammers count on getting a few “stings.”
The content of the messages and their appearance make it more difficult to differentiate them 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 retailer rewards points before they expire.
How to protect yourself:
- Be very suspicious of unsolicited contact. If in doubt, delete or hang up.
- Know NAB will never ask you to provide your personal or banking information through a link.
- Know that NAB will never send you an unexpected text message with a link.
- Keep your phone and computer up to date with the latest version of apps and trusted antivirus software.