NAB flags the top tech-based scams for 2024

NAB has flagged the likes of AI voice impersonation scams and QR code phishing scams as its top technology-based scams over 2024.

The bank’s fraud and cybersecurity experts noted six main cons believed to hit big this year as innovations in AI unintentionally contribute to the acceleration of scams.

Laura Hartley. manager advisory awareness at NAB said the scamming landscape was always shifting and AI usage will help scams reach new heights this year.

Hartley told Digital Nation, NAB has “identified the emerging scams of 2024 based on trends, topics and themes from overseas and locally that scammers make take advantage of."

She said although scammers evolve their tactics over time, the red flags to watch out for remain consistent.

“Whether it’s an individual’s business or personal devices, it’s vital that everyone has the right online security measures in place to protect themselves from scams, frauds and cyber attacks," she said. 

“Getting the basics right with the latest anti-virus software, using multi-factor authentication, and staying vigilant about managing passwords and access are easy steps that everyone can take today to better protect themselves from scammers."

Hartley added, “Stopping the use of links in unexpected text messages, introducing payment prompts to digital banking and blocking some payments to high-risk cryptocurrency exchanges are among recent measures introduced.”

The top six scams identified by NAB are AI voice impersonation scams, term deposit investment scams, remote access scams using chat, romance scams, ticket scams, and QR code phishing scams. 

AI voice impersonation scams are said to be the new version of 2022’s ‘Hi Mum’ scam however, instead of text messages scammers will call claiming to be a loved one in distress.

Hartley said only three seconds of audio supplied from a social media profile, voicemail or video on a website is needed to create such a scam and warned that “it’s just a matter of time before these scams head down under”.

She also said scammers use a multitude of ways to target people via QR phishing scams.

"QR phishing can appear as emails claiming a package hasn’t been delivered or that there’s a problem with your account and allows criminals to target thousands of people at once,” Hartley said.

“Criminals can also hide dodgy links in QR codes in places like parking payment stations, restaurant menus and signs for free public wi-fi.”

Remote access scams via web chats are said to hit big this year with Hartley stating, “Criminals will continue to target Australian consumers and businesses with remote access scams in 2024.

“That’s because the losses often run into tens of thousands of dollars, compared to other scams where the criminals might net $500 or $1,000.”

The scam often sees bad actors convincing individuals to download an app or software, enabling remote access to computers.