New Student Loan Scam Making the Rounds — How to Avoid Becoming a Victim
Students heading off to university this year may be in for an unwelcome surprise. A phishing scam targeting young university applicants as well as returning students has been identified by the watchdog agency Action Fraud. Like many phishing scams, the email purports to be from a legitimate source, in this case the Student Loans Company, the UK’s official government provider for student loans. The fraudulent notice warns that the account has been suspended pending further information. It then invites the student to follow a link and enter the details required to fix the situation.
Warnings of account irregularity are such a common phishing tactic that most experienced internet users will probably see through the scam immediately. Additionally, the email includes spelling and grammar mistakes, tell-tale signs of a scam according to Andy Fyfe, detective chief inspector of the City of London Police which runs Action Fraud. However, college students have a lot on their minds this time of year and newcomers to the university scene don’t have much experience with legitimate Student Loans Company communications. Panic over a loan hold-up could easily cause a young student to click first and think afterwards.
What Happens If You Click?
Students who fall for the bait and follow the embedded link will be directed to a scam site where they will be asked to enter personal details. Once this data is in the hands of criminals, it may be used to access personal accounts, steal money, spread malicious information, or even issue a blackmail threat. It can be very hard to regain control without professional help.
Avoid Phishing Scams
The Student Loan Company has officially confirmed that any notice of this nature is fraudulent since the company would never ask for personal details via email or text message. Action Fraud further advises students and anyone else to be cautious of email warnings that include a specific call to action. Never follow an embedded link — even if the email appears to be legitimate — and never enter personal details on an unknown site. If you’re concerned about your account status, open a new browser window and sign in via the site’s official address, or call the company directly through an official customer service line.
Students can further protect themselves from these types of emails by using a spam filter on their account and flagging any fraudulent emails they receive. If you think you are a victim of this scam, Action Fraud advises forwarding the email to phishing@slc.co.uk, as well as contacting the watchdog agency directly via Action Fraud’s website.
Students who may have entered compromising information should immediately reset their passwords and make sure their financial accounts are secure. However, this may not be enough. Hackers can use seemingly insignificant details to gather more sensitive data and build a comprehensive profile that allows them to attack your accounts in ways you might not think possible. If you’ve fallen victim to this scheme, it’s a good idea to have a professional audit of your accounts to ascertain whether privacy vulnerabilities still exist. It’s also important to start building a positive online profile that will counteract any negative information spread by the hackers.
At Reputation Defender we offer professional privacy services as well as individual reputation management for college students and young professionals. Contact one of our reputation specialists or visit our website to learn more.
