New measures major bank is taking against scammers sees 70 per cent drop in customer losses
Scammers are using sophisticated calls and texts to fleece Australians out of their hard-earned savings but one big bank is fighting back and getting good results. Scam reports from National Australia Bank customer s soared 38 per cent last year and “spoofing” cons were one of the two biggest issues. But since rolling out new defence measures in December, the bank has recorded a 50 per cent drop in spoofing scams and a subsequent 70 per cent reduction in customer losses . Watch the latest News on Channel 7 or stream for free on 7plus >> The lender now wants to join forces with government, industry and telcos in a united effort to fight back. Spoofing involves scammers obscuring phone numbers to masquerade as legitimate businesses and organisations on calls and through text messages, with the latter sometimes appearing in existing message threads. Bank customers have lost tens of thousands of dollars to the scams, with criminals prompting them to phone a number and then transfe...