National Student Money Week – Scams and Frauds:

(Credit – ‘Growtika’ at Unsplash)

Have you ever received any suspicious messages or calls asking for your personal details or bank accounts? Whenever you’re asked to share your details or pay another person, always be wary of the chance of them being scams. Unfortunately, there are lots of different kinds of scams that target students every year and becoming a victim of these can have a big impact on your financial situation. In today’s post, I’ve outlined some of the scams that students may encounter during their studies and how to avoid them.

Social media scams 

Some scammers may try to hack into your social media to gain private information associated with your account. If scammers use your personal account to share scam messages with your contacts, they could affect even more people and potentially cause a financial loss to many. Having a strong password and a two-step verification can prevent scammers accessing your account. You should also be wary of product advertisements on social media as some scammers may trick you into making a payment in advance without sending the actual product. Be cautious of purchasing products directly from another person that you don’t know and consider the possibility of it being a scam.  

Housing scams 

Looking for housing as a student can be overwhelming at the best of times. Navigating properties, contracts, bills, and independent living is challenging, especially with the current cost of living crisis. Scammers can trick prospective tenants into paying money in advance, often for properties that do not exist or belong to an unaware property owner. Common warning signs that should alert you towards a potential scammer include an extremely low rent, request for a deposit prior to viewing the property and use of money transferring services to make transactions. Therefore, it is essential that you thoroughly investigate the property before performing any transactions. For example, you can research the average rental prices in the area using property search tools such as Rightmove or Zoopla to judge whether the rent is reasonable. Do not make any payments before viewing the property in person. If you are unsure about the legal owner of the property, a quick search on the Land Registry, costing as little as £3 can provide you with this information. UHLS also offer a contract checking service if this is something you think would be a help.

Last thing, always be careful of where you’re looking to rent – Gumtree  for example has been used many times in the past to scam people in this way, so try and make sure you’re using a reputable source, like the websites I mentioned above.

Phone/email scams  

We have all at some point received a dubious email or a text instructing us to click on a link. It can be easy to fall into this trap and click on the link because often, the scammers use legitimate company names or formal messages to trick you into doing so. Clicking on the link may result in a virus being downloaded onto your device or the scammers may be abl to access your passwords and personal information. Another common scam involves an email or a text, supposedly from the HM Revenue and Customs (HMRC) saying that you are  eligible to  claim money by clicking on the link or calling a certain number. If in doubt, it is best to contact the HMRC to establish whether you are eligible for a refund. In most cases, if you are eligible, the HMRC automatically sends you the entitled amount. Another very common scam is through the phone where fraudsters convincingly pretend to be from your bank and ask for your card or bank details over the phone, so always think carefully before giving away your bank details over the phone, . If you have any concerns, you should end the call and ring your bank back.

Another common way scammers try and target people is via delivery services. Lots of times, you’ll get an email or text pretending to be from Amazon or DPD saying you need to change your account information or make a payment to receive a parcelAlways check if there really is a parcel that’s due (lots of the time they’re just relying on you assuming you’ve ordered something you don’t remember!) and pay careful attention to what the email/text looks like For example if it’s from a personal mobile number/the email contains spelling mistakes/letters that are normally in capitals are in lower case/they’re saying something bad will happen (e.g. your account will be blocked immediately if you don’t pay), then be wary, and try and investigate whether this is a genuine email (contact customer services if you’re unsure), before agreeing to what they’ve asked you to do.

Actions to take if you’re the victim of a scam 

In the unfortunate event that you have been scammed, firstly, don’t panic. Remember that several people may have been tricked into a similar situation, so you are not alone! But it is important to report this immediately to prevent this from happening to others. Some of the steps that you can take include: 

  1. Report the scam to Action Fraud (0300 123 2040)  
  2. Report the scam to the company that the scammers are pretending to belong to e.g. Royal Mail, HMRC, etc.  
  3. Speak to your bank. It is best to make payments via credit card [SM1] where possible, as this increases the likelihood that your bank will issue you a refund.
  4. Speak to the KCL Money & Housing Advice Service for advice on how to proceed. They will advise you on the steps to take and provide support.
  5. Reach out to your family and friends to inform others of scams to be aware of. You might be surprised by how many others are in a similar situation!  

I know that being targeted for scams can be a scary and frustrating experience.  I hope this helps you to stay alert to the different kinds of scams, and  always think twice before sharing your personal or bank details with another person. Remember, if you do become a victim of a scam, there is help out there for you!

You might also want to have a read of KA-01682  · Student Services Online (kcl.ac.uk)

King’s Student Money Mentors
Part of Money & Housing Advice

The King’s Student Money Mentors blog shares our students’ personal experiences and thoughts on money-related topics. Any reference, opinions or recommendations on a particular company/brand are only the views of the student(s) who wrote the blog post. King’s College London, the Money & Housing Advice service and the Money Mentor project do not share the views in the blogs nor endorse any of the companies mentioned. Readers should conduct their own research before using any companies mentioned in our blog posts.


Less Risk, More Reward – Maintaining your financial wellbeing at university!

(Credit – ‘Unseen Studio’ at Unsplash)

Our annual campaign, National Student Money Week, is returning for 2024! Given the ongoing cost of-living-crisis, we are focusing on supporting our fellow students  around making the most out of  money.  We have written about our experiences with  previous National Student Money Week campaigns and we will also introduce you to this year’s campaign.   

National Student Money Week 2021: Expect the Unexpected  

In our 2021 campaign, we shared our tips and tricks on how students could go about facing an unexpected financial situation, from scams and housing to emergency funds. We enjoyed collaborating with King’s Positive Peers to virtually talk about our themes on Instagram live. Not only were we sharing information with students, but we too learned a lot about how to best prepare ourselves for unforeseen situations that could significantly affect our financial and mental health.  

National Student Money Week 2022: Sustainable Spending  

Throughout our 2022 campaign, we shared various blog posts on themes ranging from banking and cryptocurrency. Given the rise of  thedigital revolution, more people have been using   new technologies such as online banking and cryptocurrency . By doing independent research, our Money Mentors sought to share some of the basic knowledge on these novel areas related to money. We enjoyed engaging with students on various money-related topics that are particularly relevant today!   

National Student Money Week 2023: Navigating the numbers  

2023 was our first National Student Money Week on campus after Covid! We were excited to be back on campus with our stalls, games, freebies, and best of all prizes! Not only were we on campus, but we were also posting regular money savvy content on our Instagram and blogs. We enjoyed asking students what their top money tip was and having these written on mini whiteboards that we shared on our Instagram. 

National Student Money Week 2024: Less risk, more reward 

This year, we are back on campus again, so drop by our stalls to play our games, win prizes and take away lots of free goodies! We will be there from 11am-3pm on the following days:   

Monday 4th March 

Bush House Arcade, Strand: Theme of the day – ‘Scams and frauds’.  

Join the Met Police Fraud and Crypto Crime Prevention Team at our stall to learn how to protect yourself from fraud,  and cybercrime 

Tuesday 5th March 

FWB Library Alcove, Waterloo: Theme of the day – ‘Money on your mind’.  

Meet the Student Money Mentors on campus to have a conversation about mental wellbeing and how that links with money. 

Wednesday 6th March 

The Shed, Guy’s: Theme of the day – ‘Financial fitness’.  

Find out how you can reduce your expenses and better save your money during the cost-of-living crisis. Learn more about tips for money management, planning for the unexpected and staying on a budget. 

Thursday 7th March 

Bush House Arcade, Strand: Theme of the day – ‘Extra support from King’s’.  

Exhausted all other avenues and still need more financial support? Find out what support King’s offers and other funding opportunities.  

Friday 8th March 

Great Hall Foyer, Strand: Theme of the day – ‘Roundup’.  

A roundup of the key takeaways from the week. If you missed the Money Mentors earlier on in the week, you can talk to them at their last in-person stall of the week. 

And it doesn’t end there! We also have a workshop series where you can hear from the Money & Housing Advisors , as well as our ourselves, about the themes of the week more in-depth! Don’t miss out, register now on Eventbrite: 

MONDAY 11TH MARCH, 12:30-13:30, Microsoft Teams  

Theme of the workshop – ‘Scams and frauds.’  

This workshop is specially delivered by the Met Police Fraud and Crypto Crime Prevention Team!  

TUESDAY 12TH MARCH, 12:30-13:30, Microsoft Teams 

Theme of the workshop – ‘Money on your mind’.  

WEDNESDAY 13TH MARCH, 12:30-13:30, Microsoft Teams 

Theme of the workshop – ‘Financial fitness’

THURSDAY 14TH MARCH, 12:30-13:30, Microsoft Teams 

Theme of the day – ‘Extra support from King’s’

Keep an eye on our Instagram, Twitter and Blog for further information on this fantastic campaign! 

King’s Student Money Mentors
Part of Money & Housing Advice

The King’s Student Money Mentors blog shares our students’ personal experiences and thoughts on money-related topics. Any reference, opinions or recommendations on a particular company/brand are only the views of the student(s) who wrote the blog post. King’s College London, the Money & Housing Advice service and the Money Mentor project do not share the views in the blogs nor endorse any of the companies mentioned. Readers should conduct their own research before using any companies mentioned in our blog posts.

Who are the King’s Student Money Mentors?

Empowering Students and Building Essential Skills – A personal reflection on being a King’s Student Money Mentor:

When I joined the Money Mentors project, one question persisted in my mind: What exactly does a Money Mentor do? The answer, as it turns out, is incredibly wide-ranging. The success of the project at King’s lies in its flexibility and the wide array of opportunities it presents.

Originally launched as a small project within the Money & Housing Advice Service at King’s College London in 2015, the King’s Student Money Mentors initiative has expanded significantly over the past eight years. Not only has the project grown in terms of the number of participants, but it has also evolved in the methods it employs to accomplish its mission of promoting student financial literacy.

What makes being a Money Mentor so unique is the absence of a rigid job list. Instead, it offers a dynamic platform where individuals can explore various roles based on their interests and strengths. Whether delving into social media management and honing marketing and design skills or taking the lead in organising and leading campaigns to flex their leadership muscles, Money Mentors have the freedom to adapt and seamlessly switch between roles, and we are encouraged greatly by our project leads to do so. This flexibility not only caters to the needs of busy students but also allows for the development of valuable skills that hold significance in the job market.

Furthermore, the multifaceted nature of the role ensures that Money Mentors are involved in every aspect of the team’s content production and distribution. This level of immersion enables us to create effective, relatable, and impactful materials that resonate with our fellow students. The content produced by the Money Mentors is not only informative but also highly relevant because it is created by students, for students. This collaborative approach brings together the diverse experiences and perspectives of the team, who, being students themselves from a wide range of backgrounds, can generate content that truly addresses the financial concerns and challenges faced by our peers.

Whenever the Money Mentors may lack in-depth technical financial knowledge, we can find support in the guidance and expertise of the Money & Housing Specialist Advisors, who provide us with the necessary insights to inform our content. This close relationship between the department and the student mentors is a huge factor in driving the project towards its ultimate goal of enhancing student financial literacy.

Becoming a Money Mentor goes beyond the role itself. It is a transformative journey that empowers individuals to develop invaluable skills, gain practical experience, and contribute to the betterment of their peers’ financial well-being by acting as confidants and friends in a way that university staff may not be able to do. Through this endeavour, we work towards a future where KCL students are equipped with the knowledge and tools to navigate their financial lives with confidence and success.

Yahye Mohamud & Shivam Chotai
King’s Student Money Mentors
Part of Money & Housing Advice

The King’s Student Money Mentors blog shares our students’ personal experiences and thoughts on money-related topics. Any reference, opinions or recommendations on a particular company/brand are only the views of the student(s) who wrote the blog post. King’s College London, the Money & Housing Advice service and the Money Mentor project do not share the views in the blogs nor endorse any of the companies mentioned. Readers should conduct their own research before using any companies mentioned in our blog posts.