Going home for break? Dont forget to do this.
Back-to-school season is here, and hiding out in the lockers are scammers waiting to ruin kids and their parents lives.
Why students? Because students are the perfect target. If someone offers to help find a scholarship or tech support for their new laptop, many students just assume those people have already been vetted by the college or school district. I mean, who would ever try and scam a little ol student, right?
These scammers place ads in student newspapers, set up phony textbook sales sites, send out phishing emails impersonating the school, and even show up on campus trying to raise money for tuition by selling cookies.
Its a busy season for parents and students and its important to stay alert to potential scammers who may prey on the hustle and bustle of finding housing, student financial support or offering deals on books and supplies that may sound too good to be true. It is important to protect your information, dont share personal information, and dont click on unsolicited links, said Darius Kingsley, head of Consumer Banking Practices for Chase.
The back-to-school scams you need to know about
Kingsley shared six scams that students and parents should be aware of.
Textbook rental and school supplies scams
Scammers create fake online stores offering discount school supplies and textbooks rentals, but instead deliver substandard products or nothing at all. Some tips:
Be cautious of duplicate school store sites and email offers advertising deals that seem too good to be true, Kingsley said, Scammers replicate school websites, mimicking their branding and language to deceive users.
Only purchase from verified retailers. Even though textbooks from college bookstores seem like a rip-off, Kingsley says you should always buy textbooks directly from official retailers to ensure authenticity. Avoid responding to unsolicited emails/texts offering discounted textbooks, as they may lead to malware or viruses infecting your device, he suggests.
Only use official payment channels. You may be persuaded to use alternative payment (like Zelle) methods by scammers, but legit sellers will never ask for sensitive information such as your social security number, banking password, or ATM pin.
Research unfamiliar websites. Before you drop a dime on any purchases, research unfamiliar websites by searching for their names alongside terms like "scam," "complaints," or "reviews" to check for legitimacy.
Steer clear of anyone offering school supplies at unusually low prices or accompanied by hard-luck stories, like urgent sales due to personal crises. Stick to purchasing directly from retailers' official websites to minimize the risk.
Scholarship and financial aid scams
Every year, hundreds of millions of dollars are lost bystudents defrauded by scholarship scams, Kingsley told ConsumerAffairs. Scammers target students with loans, pretending to be from a reputable company, bank, or a government agency, promising student loan forgiveness. They will request verification of personal and financial information, tricking victims into sharing sensitive data.
He suggests that you
Watch text messages.Ignore and block calls and messages from numbers you dont recognize and dont trust caller ID alone. When in doubt, hang up and get in touch with the company or bank directly to ask if there is a problem, he noted.
Keep any student loan information guarded and use digital tools to monitor your financial and bank accounts closely. For example, Chase Credit Journey offers free credit and identity monitoring, including alerts to let you know if your personal information is exposed in a data breach or the dark web. You dont have to be a Chase customer to use it.
Student identity theft.Theres plenty here for scammers to work with. Not only is there a complete database of PTA members floating around on the web, but students personal data can be bought for pennies on the dollar on the dark web.
Scammers use these databases to extract students personal information, create fake enrollment forms, and send phishing emails posing as educational institutions to trick victims into sharing personal information or login credentials.
Keep important documents safe Social Security card, passport, and birth certificate. These documents contain key information that bad actors may try to use against you or sell on the dark web, Kingsley said. If you lose your drivers license, identification card and passport, or believe someone has stolen one of them, report it right away.
Opt for paperless billing for your credit card, loan or bank statements. One trick of a scammers trade is to look in mailboxes at apartments and houses when students are away on break. Collect your mail every day and put it on hold when you're away on vacation. Shred receipts, billing statements, unused checks, and other financial paperwork, Kingsley suggested.
Roommate scams
Scammers post fake room rental listings, meet potential tenants pretending to be a landlord, and collect deposits and first months rent under false pretenses. On move-in day, the victim finds the room rented to someone else and is out of a place to live and their money.
Never engage in a rental transaction unless you can confirm the property exists. Never send cash to a stranger or give personal information like social security numbers, account numbers or passwords, Kingsley advises.
Tech support scams
Scammers ay pose as a school computer technician, saying they need to install educational software. They will try to trick students into clicking on a pop-up window to grant them remote access to fix the problem. A scam if there ever was one.
Job scams
Kingsley observed that many students work outside of their studies to earn some extra cash, but sadly, scammers take advantage of these students by texting or posting fake jobs, often part-time, work-from-home virtual gigs.
Then, after submitting their application, prospective employees are contacted for an interview, hired and convinced to share personal information including banking details thats sometimes then sold upstream to other scammers, Kingsley warnwed. "The only way to steer clear is to be wary of any unsolicited offers, and never respond to employment requests from random sources."
Photo Credit: Consumer Affairs News Department Images
Posted: 2024-08-07 11:17:28
