Student Safety TV Alert

Going back to school, college, or University? Top frauds targeting young people are revealed as Action Fraud warns about a total loss of £143.7 million last year

Students and those going back to university are being warned about the top fraud types affecting young people, as new data reveals almost 69,000 reports were received from people aged between 11 and 29, with loses total £143.7 million in 2023.

Action Fraud, the national fraud and cybercrime reporting service, has launched a student safety campaign, revealing the top frauds to look out for and how to prevent themselves from becoming a target. 

This year, Action Fraud reveals the top five frauds most reported by those aged between 11 and 29, to give students and young people a heads up on what to look out for to protect themselves. 

Top fraud types to look out for as a student?

1. Investment fraud: with a total loss of £29,509,631

Criminals will target students looking to make quick wins with available cash through cryptocurrency or schemes with a promise of high return investment. They are usually easily targeted through social media and online where many investment schemes operate. 

2. Fake job fraud: with a total loss of £149,719

Students looking for job opportunities can be targeted by fraudulent adverts aimed at stealing personal information or money. Students might be asked for an upfront payment for a fake consultation or extra help finding a job, but the fraudster does not deliver.

3. Rental fraud: with a total loss of £4,270,255

Rental fraudsters often target students looking for university accommodation. Fraudsters ask students to pay fees in advance without seeing a property first, and as a result they lose money as well as somewhere to live. 

4. Online shopping fraud: with a total loss of £9,199,951

Often fraudsters will create fake websites or replicate legitimate online stores to trick customers into providing their personal and financial information for a purchase that isn’t real. This can lead to those details being used for criminal activity.

5. Ticket fraud: with a total loss of £1,053,493

Fraudsters will use opportunities, like highly in-demand events, to target students by selling fake tickets. Students looking for cheap deals for fresher’s events can also be targets. 

D.I Duncan Wynn, Head of Central Fraud Unit at Thames Valley Police, said: 

“Fraudsters are extremely skilled in manipulating situations to make them appear as opportunities not to be missed. This can make things seem like a good deal but if you are being promised a return on your investment above market rates, seeing a property advertised to rent for much less than it should be or have spotted a job vacancy paying above average for very little input – this is a sure sign something is not right.

The same goes for items for sale, including concert and event tickets. If the price seems too good to be true, then it probably is. 

Fraudsters will also use these fraud types as cover stories to try and gain access to your bank account. This is known as becoming a ‘money mule’ and is not a fast way to make extra cash. 

Allowing your bank account to be used (unknowingly or knowingly) to pass criminal funds through can result in your bank account being closed, you being unable to get a mobile phone contract or other credit facilities and a criminal record. 

Further information can be found at Money Mules – If it sounds too good to be true, it probably is.

When faced with a potential fraudulent situation, I urge you to Take Five  - stop, challenge and protect. Fraudsters will always prioritise isolating you from sources of support so stay connected and seek advice from professionals and peers to help keep you and your finances safe.”

Adam Mercer, Deputy Director of Action Fraud, said: 

“Everyone starting the new university or school year should be able to focus on new exciting experiences and meeting new people, but we know this is not the case for some. Young people can be a primary target for fraudsters. 

It’s important to look out for these top frauds and for students to protect themselves online as well as in-person from different types of fraud. By remaining cautious about contact with someone you don’t know, or being wary of purchasing online from unfamiliar websites, you can help prevent yourself from being a victim of fraud. 

If you have been a victim of fraud, contact your bank immediately and report to Action Fraud online at www.actionfraud.police.uk or by calling 0300 123 2040. In Scotland, call Police Scotland on 101.”

What can you do to protect yourself from fraud? 

Here is some guidance to help students and others protect themselves online, whilst starting the new school or university year.

If you’ve lost money or provided your financial information to someone, notify your bank immediately and report it to Action Fraud online or by calling 0300 123 2040.