Financial Scams

Over a third of students studying in the UK have bee targeted by frauds and scams. The average amount of money lost by a victim of fraud was £80, however the financial losses can range from a few pounds to over £40,000.

Common Student-Centred Phishing Schemes

UK Visa & Immigration (UKVI) & Home Office – This is a scam targeted towards international students. Students are contacted by someone claiming to be either from the Home Office or Immigration. They may claim the student’s visa is expired and threaten students with deportation if they do not immediately pay a fine. To help the scam look more legitimate, they will typically spoof similar home email addresses or phone numbers.

Tuition Fee Exchange Scam – This is a scam targeted towards international students. A scammer may reach out to offering to make tuition fee payments on your behalf. They may offer a discounts of a reduced exchange rate. The scam works by the scammers paying the student’s tuition fees with a stolen card so that it shows up as paid on their university account and the student then pays the scammers. The bank then at some point ask for the money back leaving the student out of pockets and still needing to pay fees.

Currency Exchange Scam – Scammers may advertise a currency exchange service with better exchange rates than over companies. These rates can often be too good to be true. Once the money has been transferred over to them – the scammers cease communication and the money is lost.

University Scams (Accommodation/Tuition)

Police – Students may be contacted by scammers claiming to be from the police. They may accuse students of committing a crime (e.g. theft or money laundering). They will demand the student hands over their bank account details and copies of their ID to prove their innocence

Student Loans Company – This is phishing scam targeted normally towards home students/ student in receipt of Student Finance. Students are contacted by someone claiming to be from someone from the Student Loans Company. They may claim you have been overpaid and owe SLC money or claim that here has been an issue processing your payment and they need you to confirm your bank details. There is an increase in these scams at the beginning of term time, however these scams occur throughout the year.

The Virtual Kidnapping Scam – This is scam targeted towards international students. A student is contacted by someone pretending to be from the embassy of their home country. This person tells the student they have been accused of a serious crime. They are then persuaded not to tell anyone and to cut all contact with their family. Money is then extorted from the family as well as the student.

HM Revenue & Customs – This phishing scams targeted at both home and international students. The student is sometimes threatened with a lawsuit by a member a fake member of HMRC or is threatened with an arrest due to unpaid taxes. In certain instances, the fraudster may state that the student’s National Insurance number has been compromised and is going to be suspended, with the student’s assets seized.

What to do if you’ve shared sensitive information.

You’ve provided your banking details – contact your bank and let them know that your account has been compromised

You opened a link/installed software – open your antivirus (AV) and allow it run a full scan. Your antivirus may be able to clean up any issues. If your AV can’t clean your device up, you maybe able to restore data from your last known

Bank – If you’ve noticed any unusual activity with you bank account, please notify you bank. If you’ve lost money, your bank MAY be able to recover some of the funds. Your bank may cancel your current card and reissue you a card to prevent additional fraudulent transactions.

Support for Victims

Police – If you feel threated or in immediate danger, call 999. If it’s not an emergency, call 101

Victim Support [ https://www.victimsupport.org.uk/ ] – Victim support provides free 24/7 confidential support to the victims and witnesses of crime.

Think Jessica [ https://www.thinkjessica.com/ ] – Think Jessica provide emotional support and practical help to the victims of crime and scams

Citizen Advice [ https://www.citizensadvice.org.uk/ ] – Citizen Advice can provide you with information and advice on how to avoid scams and frauds.

Samaritans [ https://www.samaritans.org/ ] – Samaritans can help you provide emotional support to the victims of crime and scams.

Financial Scams

Common Student-Centred Phishing Schemes

What to do if you’ve shared sensitive information.

Support for Victims

References