NAB Fraud Prevention 5

Question 1

What is 'deepfake fraud' in the context of financial crime?

Accepted Answer

The use of AI-generated audio or video to impersonate executives or customers to authorise fraudulent transactions

Answer

Fraudsters using fake documents to pass KYC checks

Answer

Installing fake ATM fascias to capture card data

Answer

Creating counterfeit banknotes using high-quality printers

Question 2

A customer asks NAB why they are required to provide the purpose of a large international wire transfer. What is the primary reason?

Accepted Answer

It helps NAB comply with AML/CTF obligations by identifying potentially suspicious or illicit fund flows

Answer

NAB charges higher fees for undisclosed transfers

Answer

It is required by the Reserve Bank of Australia for currency control

Answer

It allows NAB to block transfers to high-risk currencies

Question 3

Which feature of NAB's mobile banking app is specifically designed to help customers quickly respond to a suspected fraudulent transaction?

Accepted Answer

The ability to instantly lock or freeze their card via the app

Answer

The budgeting and spending tracker

Answer

The foreign currency calculator

Answer

The branch and ATM locator

Question 4

What does 'structuring' (also called 'smurfing') mean in the context of financial fraud?

Accepted Answer

Breaking large sums of money into smaller transactions to avoid mandatory reporting thresholds

Answer

Organising a pyramid investment scheme across multiple levels

Answer

Using multiple fake identities to open accounts at a single bank

Answer

Systematically draining small amounts from many customer accounts

Question 5

A NAB fraud analyst notices a customer made 15 transactions of $990 each to different payees over two days. Why is this flagged as suspicious?

Accepted Answer

The pattern resembles structuring — keeping each transaction below the $1,000 reporting threshold

Answer

The total exceeds the customer's usual monthly spending

Answer

The transfers were all made on a weekend

Answer

The payees are located in different Australian states

Question 6

What is the role of AUSTRAC in Australia's fraud and financial crime landscape?

Accepted Answer

It is the government agency that regulates and monitors financial transactions to detect money laundering and terrorism financing

Answer

It investigates individual fraud complaints on behalf of bank customers

Answer

It prosecutes cybercrime offences involving digital financial fraud

Answer

It sets credit risk standards for Australian banks

Question 7

When a NAB customer reports they have been a victim of an investment scam, what is typically the most challenging aspect of recovering their funds?

Accepted Answer

Funds are usually transferred offshore quickly and layered through multiple accounts, making recovery extremely difficult

Answer

NAB's internal investigation processes take too long

Answer

The customer must repay NAB before a refund can be issued

Answer

Investment scam losses are automatically excluded from all banking protections