Australian big 4 bank NAB has announced the formation of a hub for frontline responders dealing with cyber security, physical security, fraud, scams and payments.
NAB Nexus, has brought together the bank's “frontline responders” from each area into one core team to assist the bank in identifying threats and cyber risks in real time, according to CEO Andrew Irvine.
“AI is going to do a lot of great things for how we live and how we work, but at the same time, AI is also going to help criminals and their threats much faster than when it was a human-only environment,” he said.
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“We know that we need to keep our customers’ money and data safe, and that’s what we intend to do. We’re better when we work together. To mitigate this threat, it must be a team sport.”
NAB Nexus will operate 24/7, and is designed to assist the bank stay ahead of AI-powered threats and ensure customers remain safe and critical services remain operational.
NAB Chief Security Officer Sandro Bucchianeri said that intelligence sharing across the different areas was critical as threats don’t usually “sit neatly in one box”, and that collaboration would help better identify and prevent threats.
“A scam attempt, fraud event, cyber incident or payments issue can quickly intersect. At the same time, new technologies like AI are lowering the barrier for criminals to operate at scale,” he added.
“NAB Nexus gives us a more connected way to see what is happening, make decisions faster and act earlier to help protect customers and keep the bank safe.”
This comes as the Australian Signals Directorate (ASD) continues to warn Australia that cyber crime is a growing problem, with AI lowering the barrier for entry for scammers and threat actors.
In the FY2024-25 year alone, the ASD received over 84,700 cyber crime reports, while scam losses reached $2.18 billion in 2025.
Critical infrastructure, like water and power providers, and banks, are a particularly attractive target for criminals as they can completely lock down and pressure entire populations of cities and towns.
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Daniel Croft
Born in the heart of Western Sydney, Daniel Croft is a passionate journalist with an understanding for and experience writing in the technology space. Having studied at Macquarie University, he joined Momentum Media in 2022, writing across a number of publications including Australian Aviation, Cyber Security Connect and Defence Connect. Outside of writing, Daniel has a keen interest in music, and spends his time playing in bands around Sydney.