As the academic year kicks off, the Student Loans Company (SLC) has issued a cautionary reminder to students about the rising threat of smishing scams. In September, SLC is scheduled to disburse approximately £2.3 billion in maintenance payments to over one million students as they commence or return to university. However, this period also sees an increase in fraudulent activities, with text message (SMS) scams being the most prevalent.
Alan Balanowski, Risk Director at SLC, expressed concern over the growing sophistication of fraud targeting students, particularly around the start of the academic year when the first maintenance payments are made. While scams involving phone calls (vishing) and emails (phishing) have been common in recent years, SMS-based fraud is now on the rise. Students have reported receiving messages urging them to click on links to change their bank details.
SLC is taking proactive measures to educate students on how to identify and prevent scams. They have shared several key tips to help students recognise and thwart fraudulent attempts:
– **Check the quality of the communication:** Scam messages often contain misspellings, poor punctuation, and bad grammar.
– **Stay vigilant:** Be cautious of suspicious emails, phone calls, or SMS messages, especially when you’re expecting a payment.
– **Examine the salutation:** Genuine messages are less likely to start with a generic “Dear Student.” Scammers often use such generic salutations.
– **Beware of urgency:** Messages that convey a sense of urgency, threatening account closure or immediate action, are often fraudulent.
– **Think before you click:** Hover over links in messages to verify their destination. Avoid clicking on unfamiliar links; instead, go directly to the source.
Scammers employ various tactics to trick individuals into sharing personal information or making payments. It’s crucial for students to use official phone numbers, online accounts, and established communication channels to verify the authenticity of any contact they receive.
To further protect students, SLC sends SMS notifications to customers in England when changes are made to their bank details, prompting them to confirm the change. Importantly, SLC emphasises that it will never request personal or financial information via email or text message.
Students who receive suspicious messages are urged to report them immediately to SLC’s Financial Crime Prevention Unit via email at [email protected] or by calling the dedicated hotline at 0300 100 0059. SLC and Student Finance England (SFE) do not use WhatsApp for their services and will never initiate contact with students through social media platforms regarding applications or student finance.
For additional guidance on recognising and avoiding scams, students can refer to Action Fraud, the UK’s national reporting centre for fraud and cybercrime.