NAB reports 389 per cent surge in superannuation scam losses

Estimated losses from investment scams involving superannuation jumped 389 per cent between October 2025 and July 2026 compared to the prior corresponding period, according to new data released by National Australia Bank.

The sharp increase in financial losses occurred even though the total volume of cases remained largely stable. NAB said around two in three of the superannuation-linked cases involved cryptocurrency payments.

NAB Executive Group Investigations Chris Sheehan said criminals are chasing larger balances as more Australians reach retirement age and begin accessing their savings.

"Australia’s superannuation pool is at record levels, and as more Australians reach retirement and begin accessing or drawing down their savings, many are actively looking for ways to grow and manage that money," Mr Sheehan said. "Unfortunately, criminals are exploiting that interest with sophisticated investment scams designed to appear legitimate."

According to the bank, scammers frequently initiate contact through social media advertisements, online trading platforms or unsolicited messages from people posing as investment experts. Victims are often pressured with false urgency, guaranteed returns or limited-time offers to move superannuation into cryptocurrency before sending funds offshore.

The warning follows data from the National Anti-Scam Centre, which recorded $878.7 million in total investment scam losses across Australia in 2025.

NAB advised consumers to consult independent financial advisers and family members before moving retirement funds, cautioning that legitimate opportunities do not require immediate transfers, secret actions or shifts into cryptocurrency.