{"id":788,"date":"2024-03-06T00:27:53","date_gmt":"2024-03-06T00:27:53","guid":{"rendered":"https:\/\/blogs.kcl.ac.uk\/moneymentors\/?p=788"},"modified":"2024-03-06T00:27:53","modified_gmt":"2024-03-06T00:27:53","slug":"national-student-money-week-scams-and-frauds","status":"publish","type":"post","link":"https:\/\/blogs.kcl.ac.uk\/moneymentors\/2024\/03\/06\/national-student-money-week-scams-and-frauds\/","title":{"rendered":"National Student Money Week – Scams and Frauds:"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

(Credit – ‘Growtika’ at Unsplash)<\/p>\n\n\n\n

Have you ever 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, 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\u2019s post, I\u2019ve outlined some of the scams that students may encounter during their studies and how to avoid them.<\/p>\n\n\n\n

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

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\u2019t know and consider the possibility of it being a scam.  <\/p>\n\n\n\n

Housing scams<\/strong> <\/p>\n\n\n\n

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 \u00a33 can provide you with this information. UHLS<\/a> also offer a contract checking service if this is something you think would be a help.<\/p>\n\n\n\n

Last thing, always be careful of where you\u2019re looking to rent \u2013 Gumtree  for example has been used many times in the past to scam people in this way, so try and make sure you\u2019re using a reputable source, like the websites I mentioned above.<\/p>\n\n\n\n

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. 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.<\/p>\n\n\n\n

Another common way scammers try and target people is via delivery services. Lots of times, you\u2019ll 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\u2019s due (lots of the time they\u2019re just relying on you assuming you\u2019ve ordered something you don\u2019t remember!) and pay careful attention to what the email\/text looks like For example if it\u2019s from a personal mobile number\/the email contains spelling mistakes\/letters that are normally in capitals are in lower case\/they\u2019re saying something bad will happen (e.g. your account will be blocked immediately if you don\u2019t pay), then be wary, and try and investigate whether this is a genuine email (contact customer services if you\u2019re unsure), before agreeing to what they\u2019ve asked you to do.<\/p>\n\n\n\n

Actions to take if you\u2019re the victim of a scam<\/strong> <\/p>\n\n\n\n

In the unfortunate event that you have been scammed, firstly, don\u2019t 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: <\/p>\n\n\n\n

    \n
  1. Report the scam to Action Fraud (0300 123 2040)  <\/li>\n\n\n\n
  2. Report the scam to the company that the scammers are pretending to belong to e.g. Royal Mail, HMRC, etc.  <\/li>\n\n\n\n
  3. Speak to your bank. It is best to make payments via credit card<\/strong> <\/a>[SM1]<\/a> where possible, as this increases the likelihood that your bank will issue you a refund.<\/li>\n\n\n\n
  4. Speak to the KCL Money & Housing Advice Service<\/a> for advice on how to proceed. They will advise you on the steps to take and provide support.<\/li>\n\n\n\n
  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!  <\/li>\n<\/ol>\n\n\n\n

    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!<\/p>\n\n\n\n

    You might also want to have a read of KA-01682\u00a0 \u00b7 Student Services Online (kcl.ac.uk)<\/a><\/p>\n\n\n\n

    King\u2019s Student Money Mentors
    Part of Money & Housing Advice<\/strong><\/p>\n\n\n\n

    The King\u2019s Student Money Mentors blog shares our students\u2019 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.\u00a0King\u2019s 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.\u00a0Readers should conduct their own research before using any companies mentioned in our blog posts.<\/em><\/p>\n\n\n\n

    \n","protected":false},"excerpt":{"rendered":"

    (Credit – ‘Growtika’ at Unsplash) Have you ever 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, always be wary of the chance of them being scams. Unfortunately, there are lots of different kinds of scams that target students every year … <\/p>\n

    Continue reading “National Student Money Week – Scams and Frauds:”<\/span><\/a><\/p>\n","protected":false},"author":1196,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-788","post","type-post","status-publish","format-standard","hentry","category-uncategorised","entry"],"_links":{"self":[{"href":"https:\/\/blogs.kcl.ac.uk\/moneymentors\/wp-json\/wp\/v2\/posts\/788","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.kcl.ac.uk\/moneymentors\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.kcl.ac.uk\/moneymentors\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.kcl.ac.uk\/moneymentors\/wp-json\/wp\/v2\/users\/1196"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.kcl.ac.uk\/moneymentors\/wp-json\/wp\/v2\/comments?post=788"}],"version-history":[{"count":1,"href":"https:\/\/blogs.kcl.ac.uk\/moneymentors\/wp-json\/wp\/v2\/posts\/788\/revisions"}],"predecessor-version":[{"id":790,"href":"https:\/\/blogs.kcl.ac.uk\/moneymentors\/wp-json\/wp\/v2\/posts\/788\/revisions\/790"}],"wp:attachment":[{"href":"https:\/\/blogs.kcl.ac.uk\/moneymentors\/wp-json\/wp\/v2\/media?parent=788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.kcl.ac.uk\/moneymentors\/wp-json\/wp\/v2\/categories?post=788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.kcl.ac.uk\/moneymentors\/wp-json\/wp\/v2\/tags?post=788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}