Stay ahead of student scams

Imagine that a student receives a call from someone claiming to be a representative of their college, who explains that the financial office hasn’t received the student’s tuition payment. This person knows the student’s full name, age, specific school within the university and the department in which they’re working toward their major. The person says that the student will be dropped from their classes unless they provide payment information immediately, over the phone.

This is just one example of how scammers may try to target students who are learning how to manage their money and other new responsibilities. Because of how much change many students go through while attending college, criminal actors often see it as an opportunity to exploit them using social engineering methods, which combine publicly available information and psychological manipulation to coerce people into providing money, information or both.

Scammers may use phone calls, texts, emails, social media or online or print ads to reach out to students with attractive deals on goods or services — or to make fake demands for payment. Sometimes, many people will receive the same phony offer. But as people post more details of their personal lives online, criminals are increasingly able to focus on specific individuals using highly targeted social engineering tactics.

Students can help protect themselves from scams by staying vigilant about what they share online about themselves and the people they know. Here are a few scams to watch for, plus ways to avoid falling for them.

Common social engineering scams targeting students

Scammers are always on the lookout for new ways to steal your personal and financial information. The following scams are commonly reported, and criminals are constantly creating new variations:

• Fake listings for apartments, used books, movers or other services. These scams start with an ad that offers housing, supplies or services that students often need, at an attractively low price. Once a target sends a full or partial payment, what was promised either doesn’t arrive or is unavailable or nonexistent.
  
  
• Student loan debt relief scams. Representatives from private debt relief companies may contact students with promises to reduce or eliminate their student debt for a fee. While some of these companies are legitimate, many are scams, and most will use pressure tactics — such as limited-time offers — to get students to sign up.
  
  
• Fake employment offers. An online or print ad may describe a job that pays well and sounds like a great fit for students’ schedules. But when students contact the “employer,” they may be asked to pay a fee or provide personal or financial information to complete the application process.
  
  
• Unsolicited scholarships and grants. Students might receive a phone call or email from an organization they don’t know. The representative tells them they’ve received a grant or scholarship and asks them to supply sensitive information — such as their Social Security or bank account numbers — to confirm they are the correct recipient.
  
  
• Social media scams. Social media platforms are often filled with details about where people live, who they know and what groups they’ve joined. Criminals can collect this information and reach out to students, pretending to be people with similar backgrounds and interests. Once they’ve established trust, they may ask for money or personal information.
  
  

In most of these scams, criminals are counting on people to act quickly before they’ve thought through all the details of the offer or request.

Students can reduce their risk of falling for these scams by:

• Watching what they post online, especially personally identifiable information such as an address or phone number.
  
  
• Monitoring their privacy settings on any online accounts.
  
  
• Verifying who they’re talking to on any unsolicited phone calls, texts or emails before giving away personal information or acting on any requests or offers. Students can do this by finding a more trustworthy way to contact the person or organization, such as an official website or company phone number.
  
  
• Refraining from sharing information with people they don’t know, especially if the initial contact was unsolicited.
  
  
• Trusting their instincts. If an offer appears too good to be true, it probably is.
  
  
• Remembering that anyone can become a target for a scam. Some criminals can even use students’ personally identifiable information to create their own fake identities to commit other crimes.
  

It’s never too early to become cyber aware

As students transition from life on campuses to the professional sphere, these skills will remain critical to safeguarding their identities, finances, family and employers. By staying alert and up to date with how scammers operate, they can help protect the people and organizations that matter most to them — and help others do the same.

Key takeaways:

• Scammers are always looking for new opportunities, and some of them target students.
  
  
• Many scams depend on social engineering, in which criminals use publicly available information and manipulation to gain people’s trust.
  
  
• The first line of defense is to be careful about sharing personally identifiable information online.
  
  
• Do not provide personal information or money to people who cannot be verified as legitimate representatives of a real company or service.