NAB is taking action to stop abusive messages disguised as bank transactions, with a warning that accounts could be shut down for those caught in the act. Here’s why it matters.
NAB Takes Action Against Financial Abuse
Over the past year, NAB has blocked more than 580,000 abusive messages disguised as payment transfers. These messages typically contain threats, harassing language, or profanities and are sent to former or current partners, often in an attempt to control or intimidate them. In fact, from December 16 to 22 last year alone, NAB blocked more than 3,900 of these abusive transactions—a figure 18% higher than the weekly average. These transactions are usually small (less than $1) to avoid detection, but just as damaging.
NAB’s Jocelyn Turner, customer services executive, explained to Yahoo Finance the gravity of the situation: “No one should have to receive harmful or abusive messages disguised as a bank transfer. It’s cruel, and we’re stopping it.” Turner’s comments highlight how even financial institutions are stepping up to tackle the scourge of financial abuse, which often intersects with domestic and family violence.
The Growing Problem of Financial Abuse
This tactic of using bank transactions for abusive communication isn’t unique to NAB. Commonwealth Bank has blocked more than a million abusive transactions since 2019, using AI models to detect harmful messages. Westpac and ANZ have followed suit, implementing similar technologies to protect customers. The holiday season, with its heightened emotional and financial stress, often sees a spike in these harmful messages, making the banks’ efforts even more crucial during this time.
What’s even more disturbing is how these tactics are linked to a wider issue of family and gender-based violence, which is often exacerbated during the festive season. As Ciara Sterling, CEO of Thriving Communities Australia, noted, family violence is a “national crisis,” and the holiday period often triggers an increase in these types of incidents. This shows how interconnected our financial systems are with broader societal issues, and why tackling this problem head-on is so important.
What Can You Do?
As part of its initiative to curb financial abuse, NAB blocks over 1,300 offensive words and phrases from its system, constantly updating the list to include new terms. While these efforts are vital, they also highlight the increasing role that financial institutions play in addressing social issues. But this isn’t just a job for banks; it’s a problem that requires a multi-faceted approach. Collaboration across industries, systems, and communities is needed to create real change.
If you or someone you know is experiencing domestic, family, or sexual violence, there are resources available. The 1800RESPECT service can be reached at 1800 737 732 or via their website at 1800RESPECT.org.au.
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