{"id":198,"date":"2021-11-26T13:45:04","date_gmt":"2021-11-26T13:45:04","guid":{"rendered":"https:\/\/blogs.kcl.ac.uk\/moneymentors\/?p=198"},"modified":"2023-02-09T13:36:50","modified_gmt":"2023-02-09T13:36:50","slug":"stay-alert-to-scams","status":"publish","type":"post","link":"https:\/\/blogs.kcl.ac.uk\/moneymentors\/2021\/11\/26\/stay-alert-to-scams\/","title":{"rendered":"Stay Alert to Scams!"},"content":{"rendered":"\n

Have you received any suspicious messages or calls asking for your personal details or bank accounts? Whenever you\u2019re asked to share your details or pay another person, you should be aware of scams. Unfortunately, there are numerous different kinds of scams that target students every year and becoming a victim of scams can have a huge impact on your financial situation. As King’s Student Money Mentors, we have outlined some of the scams that students may encounter during their studies. If you think you\u2019ve become a victim of a scam, please look at the bottom of this blog post, where we explain some of the immediate actions you can take. (You can also take a look at KCL\u2019s Frauds & Scams<\/a> page and further guidance on Student Services Online<\/a>).  <\/p>\n\n\n\n

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Photo by Jeremy Bezanger<\/a> on Unsplash<\/a><\/figcaption><\/figure>\n\n\n\n

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Social media scams<\/strong> <\/p>\n\n\n\n

Some scammers may try and hack into your social media to gain private information associated with the account. Although I was fortunate enough to have not experienced this before, it can become particularly problematic as you could become a victim of impersonation. 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. I found having a strong password and a two-step verification to help prevent scammers from accessing my account.<\/p>\n\n\n\n

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You should also be aware of product advertisements on social media. I see so many different adverts on social media every day (and I’m sure many of you have!). However, I tend to be cautious of potential scams, as some scammers may trick you into making a payment in advance without sending the actual product. It’s easy to think that you wouldn\u2019t be a victim of a scam, as social media advertisements are everywhere nowadays. You should be cautious of purchasing products directly from another person that you don\u2019t know and consider the possibilities of it being a scam.  <\/p>\n\n\n\n

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Photo by Miki Fath<\/a> on Unsplash<\/a><\/figcaption><\/figure>\n\n\n\n

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Housing and rent-related scams<\/strong> <\/p>\n\n\n\n

Housing and renting for students can be overwhelming at the best of times. Navigating properties, contracts, bills, and independent living is challenging, especially with the recent rise in scams in this sector. <\/p>\n\n\n\n

Scammers can trick prospective tenants into paying money in advance, often for properties that do not exist or belong to an unaware property owner. Another common scam involves renting a property to multiple victims at the same time. Unfortunately, students are quite vulnerable to such scams due to their inexperience, the attractive nature of the advertised accommodation and the competition in the student rental market.  <\/p>\n\n\n\n

Common warning signs that should alert you towards a potential fraud 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 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 \u00a33 can provide you with this information. We found that the Specialist Housing Advisers<\/a> at King’s and the University of University of London Housing Services (ULHS)<\/a> can help students with housing-related concerns.<\/p>\n\n\n\n

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Photo by Sasun Bughdaryan<\/a> on Unsplash<\/a><\/figcaption><\/figure>\n\n\n\n

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Fake tickets and discounts scams <\/strong> <\/p>\n\n\n\n

We are always in search of a good bargain so it’s only natural to jump at the opportunity when one presents. Online searches can provide an array of results with comparable items at a fraction of the average price. In some cases, victims can make purchases but may not receive their product. More commonly, the product received is not as advertised on the website. Another common scam involves legitimate looking websites that offer discount codes for popular website. In this instance, the websites require you to enter your details which may be forwarded to third parties that can contact you for further scamming. Therefore, it is important to judge the deals being offered and usually if the deals are \u201ctoo good to be true\u201d then it is very likely that it is a scam! It is also important to be careful about where you enter your details and for what purpose as this information could potentially be disseminated without your knowledge.  <\/p>\n\n\n\n

Apart from online discount scams, gigs and concerts can also be a target for scammers. This is because people are always looking to buy tickets, especially to the popular and oversubscribed events. Thus, scammers can take advantage of the resultant impulsiveness and desperation of wanting to attend an event, leading to many being scammed with fake or invalid tickets. In many cases, the victim transfers the ticket money, often costing much more than the usual price, but does not receive a ticket in return. So, if you know that the event is oversubscribed and sold out, it is very likely that the ticket you are being offered is a scam. Another red flag is a request for direct bank transfer to pay for the tickets. Therefore, be aware and alert about the potential of being scammed and always think before making any payments. (We found Action Fraud’s article on ticket scams<\/a> useful in understanding how some people may get scammed by purchasing a ticket from someone else.)  <\/p>\n\n\n\n

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Photo by Christopher Gower<\/a> on Unsplash<\/a><\/figcaption><\/figure>\n\n\n\n

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Phone\/email scams <\/strong> <\/p>\n\n\n\n

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. For example, the email or message may inform you of a parcel that has arrived at the Royal Mail and requires you to click on the link to pay for pending postage. Clicking on the link may result in a virus being downloaded onto your device or the scammers may be able to access your passwords and personal information.  <\/p>\n\n\n\n

Another common scam involves an email or a text, supposedly from the HM Revenue and Customs (HMRC) informing you of money that you are eligible to claim 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. Therefore, if you receive such texts, it should alert you towards a potential scam.  <\/p>\n\n\n\n

Another very popular 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. Once they obtain these details, it is easy for them to make multiple transactions and steal your hard-earned money. Therefore, always think before giving away your bank details over the phone. If in doubt seek guidance from your local branch, family members or trusted acquaintances before proceeding.  <\/p>\n\n\n\n

In review of the recent pandemic, scammers may send emails or messages, supposedly from the NHS, offering vaccine passports. They may require you to enter your bank account or card details or upload your proof of identity documents. Beware of such scams as the NHS offers the vaccine free of charge and will never ask for your personal details relating to payments in this context. If there is any uncertainty regarding such a message, contact your local GP to confirm the legitimacy of these messages.  <\/p>\n\n\n\n

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Photo by Markus Winkler<\/a> on Unsplash<\/a><\/figcaption><\/figure>\n\n\n\n

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Actions to take when you\u2019ve become a victim of a scam<\/strong> <\/p>\n\n\n\n

In the unfortunate event that you have been scammed, remember that several victims 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: <\/p>\n\n\n\n

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  1. Report the scam to Action Fraud (0300 123 2040)  <\/li>\n<\/ol>\n\n\n\n
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    1. Report the scam to the company that the scammers are pretending to belong to e.g., Royal Mail, NHS, HMRC, etc.  <\/li>\n<\/ol>\n\n\n\n
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      1. Speak to your bank. In some cases, you may be able to cancel the payment or qualify for a refund.  <\/li>\n<\/ol>\n\n\n\n
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        1. Speak to the Money & Housing Advice Service<\/a> at the university for advice on how to best proceed, following the scam. They will advise you on the steps to take and provide support with managing the impact of the scam, including financial hardship:  <\/li>\n<\/ol>\n\n\n\n