Top 5 Most Common Student Scams and How to Avoid Them

• 
  Students are at high risk of being targeted by scammers 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, it is important 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.

If you’re a student, chances are you spend a significant amount of time online, whether for studying, working, or leisure activities. With all that screen time, you might feel like you have a good grasp on what to watch out for and avoid online. 

However, scammers are always on the lookout for ways to separate you from any money you may have, and some of their tactics are not always obvious. As a busy student managing multiple responsibilities, including finances, you are an attractive target for con artists. 

But don’t worry, because familiarizing yourself with the most common scams and how to spot them will help you protect your personal and financial information. Mark Wright, an anti money laundering expert from KyrosAML.com reveals five of the most prevalent scams that target students and provides tips on how to avoid them.

1. Student Loans Company Phishing Scam

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). 

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: 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.

Scammers sometimes make their Student Loans Company emails appear authentic to trick students. If you’re unsure about an email from SLC, sign in to your account or contact them directly.

2. Fake Websites

New websites and products are emerging every day, and sometimes it’s challenging to determine their authenticity, especially if they come from overseas. That’s why it’s crucial to watch out for fake websites, as scammers often use them to deceive people. 

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.

If that’s not enough, scammers 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. They also often create web pop-ups that install malware onto your computer or device, which allows them to scan your hard drive for personal information.

How to avoid the scam: 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.

3. Ticket Scams

The highest number of concert-goers are students and young people. After all, who doesn’t want to see their favourite artist when they come to town? However, before you rush to buy tickets, it’s essential to know more about the ticket seller.

A legitimate ticket-selling website always offers secure payment methods like debit cards, credit cards, or PayPal. 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: 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.

4. Sweepstakes and Giveaway Scams

It’s no secret that students are often in need of money. From tuition fees to accommodation costs, textbooks, and everyday expenses, the financial burden of studying can be overwhelming. That’s why giveaways and sweepstakes can seem like a godsend to those needing money, but exercising caution when engaging with them is essential. 

Sweepstakes and giveaway scams can take various forms, such as 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: 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.

5. Employment Offer Scams

Students are a frequent target of job scams because they often need to find work to support themselves while studying. One common job scam involves seeing a job posting that promises great benefits such as flexible hours and above-average pay.

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: 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.

What to Do If You Are Targeted

If you suspect you have been targeted, acting quickly can help minimize damages. If you’re a victim of a scam or fraud, the following steps can help protect yourself:

• Change all passwords that may have been compromised. 
• Document everything about the incident. The more information you have, the better equipped you will be to assist an investigation by law enforcement officials.
• File a report with the police and the relevant local authorities. Official government websites offer detailed information on the latest scams and online forms to file a consumer complaint.
• Alert your bank about the scam. While it’s not always possible to recover lost funds, your bank can use the information to warn other clients.

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. 

Spotting suspicious subject lines, email addresses, and websites, as well as verifying the authenticity of ticket sellers, can help protect you from these scams. If you suspect you have been targeted, acting quickly to prevent further damage is essential.”