National Bank of Australia ( NAB), said it has blocked some payments to high-risk cryptocurrency exchanges to protect its customers.
The bank said Monday it intervened in more than $183 million in payments between March and July, raising fraud concerns. Increasing its tightness over illegal incidents related to crypto, the National Australia Bank has attracted attention with its new statements.
Authorities made a statement
Chris Sheehan, NAB Group Investigations and Fraud Manager, said in a statement. “Serving payment requests, taking action against fraud and stopping the use of links in unexpected text messages are among the key measures we have implemented recently”said.
Sheehan, who expressed her opinions without going into details about the relevant exchanges, “We are now taking action to block some payments to high-risk cryptocurrency exchanges in order to do more to stop scammers.”he added.
NAB noted that Australians lost $221 million (US$150.5 million) to crypto-related scams last year. Australia’s stance on the crypto industry has sparked community backlash. It remains to be seen how this event will affect crypto activities in Australia.
