Freshers Beware: Scammers Target UK Students in Spike During Freshers Week
Purchase Scams Soar Among Students
As universities across the UK welcome new students, Barclays’ latest Scams Bulletin rings alarm bells. Scammers are zeroing in on young people, with purchase scams making up a staggering 76% of claims from 18 to 24-year-olds. Most of these con jobs start on social media, which accounts for 71% of scam reports in this age group.
The rise coincides with student finance payments rolling out — April 2024 saw an 11.6% jump in scam claims. Criminals are cashing in on freshers managing money for the first time.
Money Mule Risks: Students Ignorant of the Dangers
Barclays Fraud Director Neil Scriven warns: “Students are commonly targeted by criminals seeking to take advantage of young people managing money for the first time.” Many don’t realise the risks involved with money mule schemes.
Shockingly, 68% of students don’t know that involvement in money laundering could land them with a criminal record, and 79% are unaware it can result in jail. This knowledge gap leaves young people vulnerable to serious legal trouble.
Social Media Scam Surge Sparks Safety Fears
Two-thirds (66%) of young people report more scam activity on social media over the past year. Many feel unsafe online, with 73% calling on tech giants to crack down harder on scammers.
Kirsty Adams, Barclays’ Fraud & Scams Expert, adds: “Social media is the number one way scammers target victims of all ages, but young people are particularly vulnerable.” She notes younger victims report smaller losses (£701 on average) than older ones (£2,914), yet the volume of scams targeting students is deeply worrying.
Barclays Urges Freshers to Stay Alert
With Freshers Week in full swing, Barclays urges students to stay sharp:
- Verify all online purchases
- Monitor finances carefully
- Beware of tempting offers and strangers online
Protect yourself from falling into fraud traps during this crucial time.
