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Customers of National Australia Bank have had thousands of dollars stolen via a dubious text message scam in recent months.
Dozens of people who have accounts with the Big Four bank have lost between $4,000 and $80,000 since November, according to news.com.au.
NAB customers were sent an SMS informing them that their accounts had experienced fraudulent activity before being told to call a phone number.
Other people received a text message showing a fake bank transaction. Customers were then advised to contact the same number if they did not complete the transaction.
The texts are often riddled with typographical and grammatical errors, a key sign that they are not legitimate.
Dozens of NAB customers have fallen victim to a dubious text message scam in recent months (pictured NAB branch in Launceston, Tasmania)
NAB’s customers were led to believe the text message was genuine, as the fraudulent messages would appear in their inboxes in addition to previous messages sent by the bank.
Manpreet Singh, a 37-year-old Brisbane resident who works as a trucker, told News Corp he sank into a deep depression after losing $14,550 in the text message scam.
They sent him an SMS claiming that someone had tried to take $6,000 out of his bank account and call a number provided in the message if it wasn’t him.
After contacting the number, the scammer on the other end convinced Mr. Singh to transfer $28,000 to a different account. Only $14,550 went through.
The bank called him five minutes later and informed him that he had been scammed and that his money had been transferred to a Commonwealth bank account.
Singh described the experience as a “horrible feeling” that “broke” his heart.
He explained that he now “doesn’t trust the system” and feels that no one has been held accountable for the scammers’ actions.
NAB offered him $1,000 in compensation.
Victims who have come forward claim they have lost between $4000 and $80,000 to scammers (file image)
Manpreet Singh was left in a deep depression after losing $14,550 in text message scam
A husband and wife in their sixties, operating a tourism business in Far North Queensland, lost $20,000 in the same scam.
The devastated couple had saved their money after their business was hit during the Covid pandemic.
It began when the husband received a text message on November 15 alleging that the couple’s joint account was the subject of fraudulent activity.
She called the number in the text and was advised by a scammer to transfer money to a “secure account.”
After doing so, his wife contacted NAB and was told the message was a scam and his money had gone to a Commonwealth bank account.
NAB told the couple that they were responsible for transferring the money and there was nothing they could do to get it back.
‘There were no warnings. The day after we called the fraud department when we tried to log in and reset our internet banking at the top there was a scam warning but before that there were never any warnings anywhere,” the wife told the publication.
“We received nothing from NAB and their opinion is that we transferred the money voluntarily, as if I wanted to lose $20,000 out of pocket just like that.”
She has revealed that she has been unable to eat or sleep due to the scam and may have to lay off her employees as the couple couldn’t afford to support them.
A sixty-year-old Queensland couple lost $20,000 to a scammer who informed them via text that their joint account had been the subject of fraudulent activity.
The couple were told to transfer money to a “secure account”, which was actually a Commonwealth bank account, before NAB informed them they had been scammed out of their money.
This type of scam is called “phishing,” in which scammers use phones or software to appear as legitimate representatives of an organization, business, or group to manipulate their victims.
Chris Sheehan, NAB fraud and gang investigations executive, told Daily Mail Australia that there has been a significant increase in the number of scams targeting customers over the past year.
“While we cannot comment on individual customer cases, we have seen a significant increase in scams, with reported bank scams increasing by 38% in 2022 year-over-year,” he said.
“It’s disturbing to see the devastating effects that can have, both financially and emotionally.”
He revealed that NAB receives around ‘100,000 customer calls regarding scam and fraud matters’ each month.
Sheehan said the bank has spent tens of millions updating its security systems and processes and that there were more than 400 people working on NAB’s scam and fraud team.
He added that tackling scams was “not an easy issue” and urged customers to contact the bank immediately if they received an unusual message.
“We encourage everyone to remain vigilant and aware of what to be aware of to stay safe from scams,” he said.
‘The problem requires a comprehensive response from the public and private sectors. There is more we can and will do as we work together across all sectors, including with major telecommunications companies, governments and other organizations to help stop these scammers.”
NAB customers can learn more about recent scams and report suspicious activity through the bank’s security alerts page. here.