The evolution is real

Today, scam emails no longer include poor grammar. AI can create flawless communication with real ABNs and near-perfect branding. Investment cybercriminals may spend months building relationships before mentioning money. Social media scams are also surging, with fake stores that have verified badges and professional sites.

Here are three common scams affecting cardholders right now:

  • Phishing 2.0. Impersonation of trustworthy sources to access your data. Cybercriminals are using your trusted bank's exact templates and sending fake follow-up SMS “confirmations”.
  • Social shopping traps. From Instagram ads to QR codes in cafes, even verified accounts get hacked. Cybercriminals are sticking fake QR codes over legitimate codes.
  • Voice cloning. Cybercriminals can use voice samples from videos to mimic someone’s voice. They could even create a fake call saying, “Mum, I’m in trouble,” making it sound like your child is in danger. Pause, think and ask some personal questions.

Spotting scams in the AI age

If something feels off, stop, check and protect. We encourage you to pause and double-check before you act. Especially as scams are becoming increasingly harder to spot.

Traditional red flags still matter, like unsolicited contact, that sense of urgency and unusual payments in your statement. But sophisticated scams can also have new tells:

  • "Safe account" transfers. Banks never ask you to move money for security. Ever. No matter how convincing the caller or how many "confirmations" you receive.
  • Perfect impersonation with tiny flaws. Deepfake videos look real, but watch for mismatched mouth movements, unnatural pauses, or that unsettling inhuman like feeling. Even AI stumbles.
  • Investment "opportunities" from new friends. Months of friendship and emotional connection, before mentioning cryptocurrency or “exclusive investments”. If it seems too good to be true, it probably is.

Check twice before buying from social media ads. Type URLs manually rather than scanning public QR codes or simply clicking on links. Find comprehensive information regarding different scam types at ScamWatch.

Your scam-smart system

Think of these as modern life skills, – quick habits that help protect your money and your card details. They only take minutes to set up but can save you thousands.

  • Careful review of transactions: Small mysterious charges often test if you're watching.
  • Virtual cards online: Never expose your physical card number to new websites, use a virtual card.
  • Use trusted contact channels: If you receive a suspicious call, text, or email claiming to be from your bank or card provider, do not respond. Instead, visit your provider’s official website and use the contact details listed there to get in touch.
  • The pause protocol: Sleep on any investment or large purchase. Legitimate opportunities can wait; criminals pressure.

More protection strategies at ScamWatch.

Been scammed? Your recovery roadmap

Regardless of your age, experience or caution, anyone can be caught off guard by scams. Here’s what you can do:

Within 24 hours:

  • Change all passwords
  • Check other accounts
  • Contact your bank or card provider to report the scam
  • Consider blocking or cancelling your card if your financial details were compromised
  • Report to Scamwatch (it can help protect others)

ScamWatch also offers recovery tips and support.

You're not alone in this

MyCard is backed by NAB's sophisticated security network. Payment alerts are there to make you pause before you pay, advanced BioCatch technology shares real-time threat intelligence between banks, and over 100 financial crime specialists are ready to step in when you need them.

Reporting scams to Scamwatch and sharing your experiences with friends both help build a stronger defence for everyone. Cybercriminals may be inventive, but so is your defence network.

Stay informed. Stay calm. Stay protected.

Important information

MyCard branded credit products are issued by National Australia Bank Limited (ABN 12 004 044 937, AFSL and Australian Credit Licence 230686) (“NAB”). Our/us/we means NAB.