NAB Fraud Prevention 3

Question 1

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

Accepted Answer

10 years imprisonment

Answer

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

Question 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?

Accepted Answer

Government impersonation scam

Answer

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

Question 3

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

Accepted Answer

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

Answer

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.

Question 4

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

Accepted Answer

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

Answer

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

Question 5

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

Accepted Answer

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

Answer

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.

(NAB) National Australia Bank Practice Test

(NAB) National Australia Bank Practice Test

NAB Fraud Prevention 3