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Financial Scams

On rare occasions, students are targeted by fraudulent individuals and companies advertising tuition or accommodation fee payment or investment services. They may tell you they have a contact at the University who can get you a discount on your fees, or offer to invest a sum of money in return for paying your fees for you. They may ask you to provide details of how you pay your fees (for example, online login details) and use these details to login and pay your fees with a stolen or fraudulent credit card. If you check your account, you will see your fees have been paid and hand over cash to the fraudster. However, later when the bank notifies the University of the fraudulent payments, the payments will be cancelled. Your fees will remain unpaid and you will lose the money you gave to the fraudster.

To protect yourself from this, avoid individuals and companies advertising tuition or accommodation fee payment or investment services by email, social media or in person, and contact the police if you believe you are the target of fraud. Never share personal, banking or financial information – including, for example, University login details, with anyone, and never be pressurised by any proclaimed deadline or threats of retaliation. You can check with Warwick’s Student Finance Team if you’re in any doubt about how to make a payment.

You can also find further guidance from the Home Office.

Fri 13 Apr 2018, 14:20 | Tags: Be aware