Glasgow students are being warned to stay vigilant amid scams currently circulating.
It comes as fraudsters are reported to be on the lookout for ways to con young people out of their money by tricking them into believing they are a legitimate website or company, including student loan firms.
Mark Wright, an anti money laundering expert from KyrosAML, has revealed one student loan scam in a bid to help student improve their awareness of the fraudsters.
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Here is what you need to know:
Student Loans Company Phishing Scam
What's the scam?
Most students take out loans when they begin their course, making 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. 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 often 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.
What to do if you are targeted
Wright explains: “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.”
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.
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