For the differential societal groups, students are at high risk of being targeted by scammers. This is due to their frequent online activities and financial needs. The most common scams that target students include phishing scams related to student loans, fake websites, ticket scams, sweepstakes and giveaway scams, and employment offer scams.
To avoid falling victim to these scams, those at risk need to be cautious and aware of red flags such as unsolicited requests for personal information or payments, spelling mistakes in emails or website URLs, and suspicious payment methods.
Mark Wright, an anti-money laundering expert from KyrosAML.com, has explained to Digital Journal about five of the most prevalent scams that target students and provides tips on how to avoid them.
Student Loans Company Phishing Scam
Wright explains: “Most students take out student loans when they begin their university studies. Unfortunately, this makes them a prime target for phishing scams that appear to come from the Student Loans Company (SLC).”
He adds: “These emails often request personal and banking information for supposed payments. However, it’s crucial not to reply to these emails. Remember, reputable organizations like SLCs or banks never ask for your personal information through email.”
How to avoid the scam?
To avoid this trick, Wright advises: “Be cautious of subject lines or email addresses that contain spelling mistakes, and watch out for forceful or threatening language, such as “we will stop your payments”. Also, keep an eye out for suspicious email addresses or slight variations in a sender’s email address, such as Hot-mail.com instead of Hotmail.com.”
Fake Websites
New websites and products are emerging every day, and sometimes it is challenging to determine their authenticity, especially if they come from overseas. Wright days this is why it is “crucial to watch out for fake websites, as scammers often use them to deceive people.”
As an example, says Wright: “Fraudsters will create scam online shops that offer incredible deals that seem too good to be true and may also target people through social media ads. Additionally, they make fake customer support websites, where they pretend to be technical support staff to gain remote access to your computer.”
Scammers will also set up fake delivery websites that imitate well-known companies like FedEx, DHL, and Amazon and then request address verification or payment details for a supposed parcel delivery.
How to avoid the scam?
Wright recommends: “Spotting fake websites isn’t always easy. It’s essential to do your research before purchasing any products or services from a website. Look for online reviews to see if other customers have had negative experiences with the site.”
Ticket Scams
The highest number of concert-goers are students and young people. A legitimate ticket-selling website always offers secure payment methods like debit cards, credit cards, or PayPal.
Wright says: “Avoid purchasing tickets from sellers who ask you to send money directly to their bank account. Such transactions are likely to be scams, and you may lose your money. Sometimes, tickets for popular events sell out quickly. In such cases, people may turn to websites like Viagogo, TicketSwap, or eBay. However, be careful when using these sites as they are not official ticket vendors but platforms where others sell their tickets. As a result, event organizers are not responsible if you purchase fake tickets”
How to avoid the scam?
Wright advises: “To ensure you don’t fall prey to counterfeit ticket scams, obtaining your tickets from a trustworthy website is crucial. Avoid transferring money directly to sellers who insist on receiving payments to their bank account.”
Sweepstakes and Giveaway Scams
Sweepstakes and giveaway scams can take various forms. Wright identifies: “Receiving a phone call, email, or social media message from a sweepstakes or lottery company informing you that you have won a prize. However, scammers will ask you to pay a processing fee or taxes to claim the reward, and they may also request your bank or credit card information, claiming they will deposit the winnings into your account.”
How to avoid the scam?
Wright puts forward: “If you suspect that you have won a real prize, it’s recommended to visit the official website of the organization that contacted you to learn how to proceed.”
Employment Offer Scams
Students are a frequent target of job scams because they often need to find work to support themselves while studying. Wright pitches: “One common job scam involves seeing a job posting that promises great benefits such as flexible hours and above-average pay.”
In this context he says: “Be wary if the employer demands an upfront payment to proceed with the interview process or to secure the position. Some fraudulent job applications may ask for your personal information, such as your social security number, which can be used by cybercriminals without your consent.”
How to avoid the scam?
Wright says: “It’s essential to sever all ties with companies that ask for advance payment for a job. If you’ve already paid a fee, report the scam to the website where the job was advertised.”
Wright concludes: “Students are vulnerable to scams that target their financial resources, such as student loans, event tickets, employment opportunities, giveaways, and sweepstakes. As a result, it is crucial to stay vigilant and learn how to identify and avoid scams.”
