Australia’s NAB to require selfies from new customers in crackdown on identity theft

National Australia Bank (NAB) will soon require new customers to take a selfie as part of its identity verification process; in a move the bank says will help combat the growing threat of identity theft. From next month, all new NAB customers will be asked to confirm their identity using facial recognition technology. The system, which relies on biometric data, is designed to prevent criminals from using stolen driver’s licences or passports to set up fraudulent bank accounts, a scam technique that has been spreading rapidly. “Over 255,000 Australians a year have their identity stolen or com

National Australia Bank (NAB) will soon require new customers to take a selfie as part of its identity verification process; in a move the bank says will help combat the growing threat of identity theft. From next month, all new NAB customers will be asked to confirm their identity using facial recognition technology. The system, which relies on biometric data, is designed to prevent criminals from using stolen driver’s licences or passports to set up fraudulent bank accounts, a scam technique that has been spreading rapidly. “Over 255,000 Australians a year have their identity stolen or compromised,” said Chris Sheehan, NAB’s Head of Group Investigations, in an interview with 9News Finance Editor Chris Kohler. “Now that number, I suspect, is on the low side. We’re confident we’re going to make a real difference.” Industry experts have broadly welcomed the move, but warn that collecting more personal data also raises new risks. “What we need to worry about is where this information is being held,” technology commentator Trevor Long cautioned. “This is the last thing we want, our names, our details and photos of ourselves being hacked.” NAB has stressed that the new requirement will apply only to new customers, with no plans to roll out the verification system for existing account holders. Those uncomfortable with facial recognition will still have the option of opening accounts in person at a branch. The change comes amid alarming new figures from the Australian Competition and Consumer Commission (ACCC), which reported that Australians lost $175 million to scams in just the first six months of this year alone.