NationalAustralia bank to block payments to 'high-risk' crypto platforms NAB
Australians lost $148.3 million from investment scams in 2022 where crypto payment method was used, as per an April report.
on 17 July a slew of new measures to protect customers from scams as part of its “bank-wide scam strategy.” NAB did not specify which crypto platforms this directive will affect.More broadly, cryptocurrency scams are one of the fastest-growing security threats, with Australians losing more than $221 million to them last year.We’re now also taking action to block some payments to high-risk cryptocurrency exchanges in a further effort to stop scammers.
NAB follows a number of other Australian banks in adopting a cautious approach towards cryptocurrency in recent months.
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