An Albany teenager shared the heartbreaking story that lost her $36,000 in a sophisticated NAB bank phone scam.

6PR Mornings host Gary Adshead, was so shocked by NAB’s poor response, who simply told the 18-year-old there was nothing they could do, he decided to follow up on the incident.

Chris Sheehan, NAB Executive of Group Investigations and Fraud, told Gary that they are working with telecommunication providers to put protections in place.

“I don’t think banks created a problem but internationally we have moved to a digital economy – unfortunately criminals who move much quicker than governments – have also dived into the digital economy and are exploiting every vulnerability that they can,” Mr Sheehan said.

Press PLAY to hear the full conversation with Gary and NAB

Frustrations began to grow as Gary called out Mr Sheehan for continuing to deflect responsibility.

“That’s not good enough. You have created the environment. The notion of sending text messages to your customers is enabling these people to leap in very quickly and pinch money. You know it,” Gary said.