Scammers not only collect personal data but they can intercept sensitive information such as financial details to promote fraud and cyber crimes.
By Derick Mwanguhya
Published: November 28. 2023
College life is an exciting chapter filled with learning experiences, new friendships, and personal growth. However, it’s also a time when students need to be vigilant against various scams that target their vulnerabilities. And most are online scams.
Scammers often exploit the transitional nature of student life, taking advantage of the unfamiliarity and trust that comes with the pursuit of education.
In this guide, we will aim to explore the types of scams and phishing attacks targeting college students and equip you with the knowledge to protect yourself from them.
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Why are Students Targeted?
Vulnerabilities of Student Life:
College students are particularly susceptible to scams due to many factors. First, many students are away from home for the first time, navigating newfound independence and unfamiliar environments. This lack of experience can make them more susceptible to online extortion and phishing websites.
Financial pressure
The desire to secure scholarships or part-time employment makes students attractive targets for scam websites. This is because many students think this is one of the ways to survive while on campus.
According to the Federal Trade Commission, College students may have limited experience spotting a scam, and their eagerness for internships, jobs, or scholarships can make them targets for scams and identity fraud.
There are many types of phishing attacks from email scams and credit card fraud to WhatsApp scams and Instagram scams or even gift card scams and student scholarships.
Imagine a scenario where scammers create a fake website offering high-paying remote jobs for students. Many students will fall for these internet scams, thinking that they have landed a job while still on campus.
But in reality, a scammer collects personal information during the application process, putting unsuspecting students at risk of identity theft or financial fraud.
6 Common Scams Targeting Students and How to Protect Yourself Share on XHaving known that let’s look at the common scams targeting students and how to avoid them;
1. Pyramid Schemes
You haven’t read my story, but I’m writing this article because I was scammed before and I learnt what I can do right to avoid potential scams.
My true story: Between 2021 and 2022, my college friends referred me to a Ponzi scheme which looked too good because in a day I could earn 180,000 Shs (About $50). I was very excited thinking I was the next millionaire on campus because I had invested all my upkeep.
But all this was fake, I lost all my money after 2 months when the platform suddenly shut
You got the story, maybe you have one too, kindly share it with others in the comments section
However, pyramid schemes often target college students with promises of quick and easy financial gains.
They recruit students into these schemes, where participants earn money by bringing in new members. However, these schemes are unsustainable and often result in financial losses for participants — just like in my experience when the scheme disappeared.
How to protect yourself?
Be wary of pyramid schemes that promise quick and large returns for minimal effort. Ponzi schemes often rely on recruitment or multi-level marketing.
Consult your colleagues before investing your time and money in a pyramid scheme and it doesn’t hurt to make a simple Google search to find out the credibility of the scheme.
These scammers often move from one state to another, and this may save you in case you land on an article where the scheme recently shut down in a neighbouring state.
2. College scholarships and Student loan Scams
This is a common form of scamming students as scammers pretend to give scholarships to college students.
By the way, while joining college, 6 out of 10 of my colleagues were sharing links to fake scholarship websites — it’s still the norm even today.
Here scammers pose as scholarship providers or student loan websites. They often request payment for application fees and promise scholarships to study abroad in exchange for personal data.
More so, fraudulent organizations can send emails to students, claiming they’ve been selected for an exclusive scholarship. To secure the funds, students are asked to pay an upfront fee and once the fee is paid, the scammer disappears.
Common spam emails are often written with wrong grammar, promise free scholarships and fake grants. Share on XHow to protect yourself?
Be cautious of any organization asking for payment to secure financial aid because legitimate scholarships and grants do not require payment upfront.
When applying for scholarship programs or student loans, first check if it’s secure, using your browser. Of course, some scammers pay for modern security SSL(https instead of http) but many do not and most of these links are hidden in shortened links that redirect you to the scammers’ website.
Remember most common spam emails are often written with wrong grammar, promise free scholarships and promise fake grants.
Of course, utilize the online BBB scam tracker or a scam adviser whenever you detect a scam alert because with these tools you can get a list of scamming websites and avoid them for your safety.
3. Fake Employment Offers
Who doesn’t want to drive that posh car while still on campus or intern at a multinational brand? I know you said you ain’t that type — but many college students love a luxurious life that comes with a good-paying job.
Scammers create and maintain fraudulent postings on many reputable job boards, for monetary gain, including handshake and even networking sites like LinkedIn.
These jobs often involve offers that seem too good to be true, and that attract students with high wages for minimal work and other fringe benefits that you can’t expect in real-world employment at an entry level.
You have probably seen scammers advertising work-from-home job that promises high hourly rates for simple tasks. (Recently I was promised $200 per day to watch videos).
To secure the job, students are asked to provide personal information such as address and contact information, including bank details.
The scammers then use this information for identity theft or financial fraud since this sensitive information is now in their hands.
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How to protect yourself?
You should be wary of job offers that promise you heaven and earth without even thinking about your experience, the reality is that no employee will pay you thousands of dollars to just sit and watch videos or like social media posts.
Noteworthy, legitimate employers do not typically request personal or financial information in initial job applications.
And do research before applying, ask your friends and your tutors how credible the job you want to apply for is, it will give you an insight into what you’re about to try,
Reporting phishing emails and fraudulent websites can always help but it won’t give you an immediate solution to phishing attacks.
4. Public Wi-Fi Scams
Believe it or not, data plans are expensive for many students on campus and the only solution is to rely on public WiFi — but is it safe?
WiFi is another way students can be scammed while on campus.
Scammers may set up fake Wi-Fi with a name similar to the official campus network. Wi-Fi networks or employ other tactics to intercept sensitive information transmitted over these networks.
This is because colleges offer extensive public Wi-Fi networks and even the free one is relatively slow, this makes students vulnerable to cyber threats as they opt for cheap or free internet.
Students unknowingly connect to the fake network, allowing the scammer to intercept login credentials, and collect personal data, and even financial details.
How to protect yourself?
Always connect to secure and verified Wi-Fi networks. And avoid using public Wi-Fi for making sensitive transactions such as entering your card details directly(use tools such as Apple Pay or Google Pay instead where your card details are always encrypted).
Always connect to a public WiFi using a secure virtual private network (VPN) for added security and utilize browsing tools that enhance your security while browsing on the web such as using incognito mode, using adblockers and opting for browsers such as Brave and Tor that help you browse the web anonymously.
5. Apartment Scams
Few of us might not agree that students can be scammed when looking for hostels and rentals to stay in.
But considering the complexity of searching for where to stay, many are still scammed in this way.
Meanwhile, scammers exploit students’ demand for apartments near campuses and their search for affordable housing,
Then they create fake rental listings or impersonate landlords to deceive students into paying deposits for non-existent properties. The fake listings are well-located and at a below-market price which students can’t avoid but pay a deposit fee to secure housing not knowing it’s a scam.
How to protect yourself?
Always visit a property in person before making any payments and know the person you’re paying with their role.
More so, be cautious before paying for accommodation that is drastically low priced compared to the normal as you may fall victim to a scam.
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6. Social Media Scams
“I got scammed on Instagram what can I do,” my colleague Nicole told me. But to be realistic I had nothing to do
And with social media being a main tool of communication among college students, scammers leverage these platforms to exploit trusting relationships. This is because it’s had to Identify a scammer on social media.
Meanwhile, scammers use common tactics such as impersonating friends to gain access to personal information or promoting fake events and opportunities to lure students into scams.
Noteworthy, In the fourth quarter of 2022, Facebook deleted 1.3 billion fake accounts, according to Statista. This should tell you that these accounts are many considering the ever-evolving technology.
For example, many create fake social media accounts posing as a fellow student. They reach out to unsuspecting students, claiming to have exclusive information about scholarship opportunities that require a small upfront payment. Once the payment is made, the fake account is deleted.
Scammers use common tactics such as impersonating friends to gain access to personal information or promoting fake events and opportunities to lure students into scams Share on XHow to protect yourself?
Always verify the identity of the person you are interacting with, especially when it involves financial transactions since scammers love to use social media to impersonate others.
Additionally, as a student utilize different privacy tools provided by social networks to protect yourself, verify the people you interact with and report any form of fraud or impersonation.
Final Thoughts
As a student, protecting yourself from scams requires a combination of awareness, scepticism, and proactive measures.
College students should approach online interactions, financial transactions, and job searches with a critical mindset. By staying informed, verifying information, and being cautious of offers that seem to be attractive, students can safeguard their finances and personal information.
As technology evolves, so do the tactics of scammers, thus as a student, you should make your safety a priority.
Do you know of any other scams that we might have left out? Drop it in the comments section.
Thanks for reading. And if it was helpful share it with others in your circle.