£143.7 Million Alert for Parents, Students, and Universities This September

As the new academic year begins and students head to universities, Action Fraud has issued a warning about the top frauds targeting young people. Recent data shows nearly 69,000 reports from individuals aged 11 to 29 in 2023, with total losses amounting to £143.7 million.

To help parents and students avoid falling victim to scams this September, Marc Porcar, CEO of QR Code Generator, highlights key types of fraud and how to prevent them.

Investment Fraud: Total Losses of £29.5 Million The leading scam students face is investment fraud, according to Action Fraud. Scammers target students eager to make quick money, often luring them into cryptocurrency schemes or high-return investments promoted online. To avoid falling prey, students should educate themselves about the basics of investing and the associated risks. Be wary of promises of high returns with little risk—legitimate investments always carry some level of uncertainty.

Fake Job Fraud: Total Losses of £149,719 Students searching for jobs may encounter fraudulent job postings designed to steal personal information or money. Scammers might request an upfront fee for job consultations or assistance, with no real opportunities delivered. To avoid this, verify potential employers through trusted platforms like Trustpilot, and never provide sensitive information or payments without proper investigation.

Rental Fraud: Total Losses of £4.27 Million Rental scams are common among students searching for accommodation. Scammers ask for upfront payments before the student sees the property, resulting in lost money and no place to stay. Students should thoroughly research properties and landlords, visit the property before making any payments, and use secure payment methods like bank transfers rather than cash.

Online Shopping Fraud: Total Losses of £9.2 Million Fraudsters create fake websites or mimic legitimate stores to steal personal and financial information during fake transactions. To avoid online shopping fraud, students should stick to well-known retailers, verify new websites by checking reviews, and ensure the site’s legitimacy before making purchases.

Ticket Fraud: Total Losses of £1.05 Million Ticket scams often target students seeking discounted tickets for events like concerts or freshers’ nights. To avoid being scammed, students should purchase tickets through official websites or trusted sellers, use secure payment methods like credit cards or PayPal, and be cautious of deals that seem too good to be true.

Marc Porcar advises parents and students to stay vigilant: “Even tech-savvy young people can let their guard down, especially if they believe the request comes from an authoritative source like a university or letting agent. While parents are generally cautious with their children’s personal details, back-to-school scams can catch anyone off guard.”

He continues: “Fraudsters will go to great lengths to steal your money, so it’s important to be aware of the risks. One helpful tip is to use separate email addresses or phone numbers for sign-ups or temporary interactions to reduce exposure to phishing scams. If in doubt, always contact the university directly using official contact details—it’s better to be safe than to risk losing a significant amount.”