SLC will pay more than £2billion to 2 million students over the
coming weeks and is reminding people to be vigilant. As payments
make their way to students, the company is warning Freshers and
returning students to not be tricked into disclosing personal
details or clicking on links in emails or text messages, as they
could be installing malware.
In the last three years alone, SLC’s dedicated Customer
Compliance teams has stopped £1.2million being lost to fraudsters
from students’ bank accounts. The expert teams have a range of
methods and fraud analytics to stop scammers in their tracks, but
students need to know that they are the best and first line of
defence.
Spotting a phishing email or SMS isn’t always easy, but the
Student Loans Company has some fraud facts to help:
- Check the quality of the communication - misspelling, poor
punctuation and bad grammar are often tell-tale signs of
phishing.
- Keep an eye out for any emails, phone calls or SMS messages
you think are suspicious, especially around the time you’re
expecting a payment.
- Scam emails and text messages are often sent in bulk to many
people at the same time and are unlikely to contain both your
first and last name. These commonly start - ‘Dear Student’ - so
be on guard if you see one like this.
- ‘Failure to respond in 24 hours will result in your account
being closed’ - these types of messages are designed to convey a
sense of urgency to prompt a quick response.
- Think before you click. If you receive an email or SMS that
contains a link that you’re not sure of, then hover over it to
check that it goes where it’s supposed to. If you’re still in any
doubt don’t risk it, always go direct to the source rather than
clicking on a potentially dangerous link.
- Scammers can use a variety of methods to try get students to
pay money or share their personal details, including the use of
fraudulent phone calls, social posts and direct messaging on
digital platforms. If you are suspicious of being contacted,
always use official phone numbers, your online account and
official communication channels to verify the contact you
received is genuine.
- Students should also be mindful of the information that they
share about themselves on social media, and elsewhere online, to
help guard against identity theft. Identity theft happens when
fraudsters access enough information about a person’s identity,
such as their name, date of birth, customer reference number,
course information or their current or previous addresses to
impersonate them online and over the phone.
- Check out our guide to identifying a phishing scam at
www.gov.uk/guidance/phishing-scams-how-you-can-avoid-them
Bernice McNaught, Executive Director, Repayments and Customer
Compliance at the Student Loans Company, said:
“It’s no surprise that at this time of year students, especially
Freshers, have a lot on their minds - getting to grips with
classes and campuses, making new friends or exploring new
surroundings.
“With so many things taking attention, it’s easy for students to
drop their guard when it comes to mindfulness over online scams
and fraudulent phishing. Unfortunately, digital scams,
phishing and identity theft have become an everyday part of
modern life, and scammers are all too aware that the three
student finance payment periods in September, January and April
each year are a prime time for them to try to trick students.
“Keeping money in students’ pockets is a high priority for
SLC. Our Counter Fraud teams work to keep on top of the
constantly evolving digital scams, to support students who may be
in danger of losing their funds to fraudsters. The first line of
defence against fraudsters is always students themselves.
They can keep their account safe by following our simple tips.”
Customers in England should be aware that whenever their bank
details are changed, they will receive an SMS from Student
Finance England (SFE) to confirm the change. If a customer hasn’t
changed their details but receives a message, they should log
into their online account to review their information and also
get in contact using an official telephone number as
they could be the victim of identity theft and future payments
may be blocked if they don’t.
There is also a range of additional advice and information on
recognising and avoiding scams from Take Five, a national
campaign aimed at stopping fraud: Take Five - To Stop Fraud
