Practice Test Geeks(NAB) National Australia Bank Practice Test
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Fraud Prevention Flashcards

7 cards from real NAB practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Fraud Prevention flashcards as text

  1. Under Australian law, what is the maximum penalty for individuals convicted of serious fraud offences under the Criminal Code Act 1995?

    Answer: 10 years imprisonment

    Under the Criminal Code Act 1995 (Cth), general fraud offences can carry penalties of up to 10 years imprisonment for serious cases.

  2. A fraudster calls a NAB customer posing as the ATO and claims the customer owes back taxes and must pay immediately via bank transfer or face arrest. This is an example of which fraud type?

    Answer: Government impersonation scam

    Government impersonation scams involve criminals pretending to be from agencies like the ATO or police to create urgency and coerce immediate payment.

  3. What is the primary purpose of a CVV (Card Verification Value) number on a payment card?

    Answer: To provide an additional security layer for card-not-present transactions

    The CVV is a 3- or 4-digit security code that helps verify the physical card is present during online or phone transactions, reducing CNP fraud.

  4. Which red flag is most commonly associated with a business email compromise (BEC) attack targeting a company that banks with NAB?

    Answer: An urgent email request to change a supplier's bank account details

    BEC attacks frequently involve fraudsters impersonating suppliers or executives and requesting urgent changes to payment details to redirect funds.

  5. NAB advises customers to use a 'verification callback' when they receive an unexpected request to transfer funds. What does this involve?

    Answer: Calling the requester back on a number independently sourced (not one they provided)

    A verification callback means calling the person or organisation back on a known, independently verified number to confirm the request is legitimate before transferring funds.

  6. What is 'synthetic identity fraud'?

    Answer: Combining real and fabricated personal information to create a fictitious identity

    Synthetic identity fraud combines real information (like a valid Social Security or tax file number) with fabricated details to create a new false identity.

  7. How does two-factor authentication (2FA) help prevent unauthorised access to NAB online banking?

    Answer: It requires a second form of verification beyond just a password, such as a one-time code

    2FA requires customers to provide a second piece of evidence (like an OTP sent to their phone) in addition to their password, making it much harder for fraudsters to gain access.