Students and their families have been increasingly targeted as primary subjects for scams in the past year. Scams include tuition fees being sent to fraudsters or tickets being sold for fake events.
Here’s what you need to know to avoid falling victim and losing your student loan.
How scammers operate
Fraudsters have been impersonating student loan companies and university staff, contacting students via text messages to demand payment of tuition fees.
It is important to always double-check with your university or the Student Loan Company (SLC) and request an official confirmation of the payment. Keep in mind that payments are never requested via text or calls.
Additionally, avoid clicking on links the text might have included and report them to report@phishing.gov.uk.
Accommodation scam
Other scams involve accommodation fees, and students are often contacted and asked to pay immediately. To protect yourself, do not share bank details, as this could give scammers full access to your bank account, reports the NTU.
Money muling
If you suspect you have been targeted or have fallen victim to a scam, report it immediately to your university or the financial aid office and notify your bank
Money muling is another serious crime that has been targeting students, pushing them to receive illegal funds into their bank accounts in exchange for cash.
A form of money laundering, the National Crime Agency (NCA) explains: “They help hide the origin of illicit funds in various ways, including moving them through their own bank account (or multiple accounts), buying and selling cryptocurrencies, or withdrawing cash and handing it over.
“Each transaction helps to further obfuscate the trail of the funds and ultimately to launder the funds. Be aware that money muling is an illegal practice that could lead to fines, criminal records, or imprisonment.”
Fresher’s Week events scams
During Freshers’ Week, some students have fallen victim to scams involving fake tickets to events. Non-existent tickets have been sold online, especially targeting international students. The tickets will often show a full schedule of events, including meet-ups, drink nights, and club parties.
To avoid these scams, purchase tickets from the event’s official platform and refrain from clicking on social media links.
How to spot a scam
The easiest way to recognize a scam is by looking out for the red flags:
- Generic greetings without specifying your name.
- Poor language use with grammatical errors.
- Request for immediate payment or bank details confirmation.
What to do if you fall victim to a scam
If you suspect you have been targeted or have fallen victim to a scam, report it immediately to your university or the financial aid office and notify your bank.
Follow SLC’s advice: “Think before you click”, and refer to the official SLC guidance page or Action Fraud website for further information.