Stay Safe From Financial Fraud In Your College Journey

Whether you are attending UA, Stillman, Shelton State or headed elsewhere for college this month, beware, there are people out there that want to trick you out of your money.

The Better Business Bureau and Equifax's "ID Watch" are cautioning college students that there are more efforts to cheat you out of your (or your parents) money than ever being aimed at college students, especially more vulnerable and overly trusting freshman.

According to the Identity Theft Resource Center (ITRC), looking for an apartment, hooking up utilities, getting a new credit card, student employment and even paying tuition can be fraught with hazards.

Get our free mobile app

Here is a list of some of the top fraud and scams students should be alert to:

• Apartment Rental Fraud: One of the top scams are fake listings for student apartments. The fraudster advertises an unbelievably cheap monthly rental that is just perfect for the college student's budget. They ask for credit card information to hold the apartment before the student has even seen it. If the student balks, the fraudster uses urgency to remind the student that the great price will draw other student's interest so, "they need the credit card information to hold the apartment." Once you agree, they send you a website to enter your credit card information and receive a credit check. When you submit your sensitive information the "landlord" disappears with your personal information.
• Tuition Scam: The student receives a test message or phone call from someone claiming to represent the school's bursar's office. They claim you are short on tuition and demand immediate payment or you will not be allowed to register for class. They ask for your credit card information. You should hang-up and call the school back to ensure the call is legit.
• Scholarship/Financial Aid Scam: A person claiming to be from the college or university calls or emails with good news, you have been awarded a scholarship or additions financial aid is now available. All you need to do is give them your bank information. This is great news, your parents will be happy, until the bank account is empty.
• Student Employment Fraud: Wow, there is a job offer posted on the bulletin board that has an unreal salary for a college student. It probably is unreal! This is a common scam where an offer appears to be too good to be true. Be aware of a suspicious-looking email address or company website or if you are asked to interview in an unusual location. These are danger signs financially and possibly physically. A prospective employer asking for your personal information before the interview is a dead give-away it's probably a fraud.
• School Book Scam: Scammers know schoolbooks are a major part of school expenses. The scammer will advertise cheap secondhand books on bulletin boards or even in school newspapers. When you call the number, they amazingly have just the texts you need. They ask for your credit card information so they can mail the books to you immediately. Be very sceptical!
• Credit Card Scam; This is a growing problem. Students are looking to establish credit and credit card companies know it, so they are willing to give you your first credit card, with a very high interest rate. Also be wary of credit cards with unreal low interest rates. It is probably an attempt to get your personal information.
• Social Media Scam:  Seventy-eight percent of 18- to 24-year-olds use Snapchat, 71 percent use Instagram, and close to half use Twitter according to the Better Business Bureau. Far too many of those who use social media are over trusting. This sets them up to a myriad of scams and frauds. One of the new ones is a social media post that states the poster is a new student at the school and would like to collect email addresses in order to build a group of friends. This could set you up for identity theft or even worse a physical assault by a stranger.
• Test Prep Scam: A growing problem in colleges are shady companies offering test preparation assistance. Scammers promise to help you pass your exam. Once you give them your personal information you never hear from them again or they attempt to blackmail you, demanding additional money to keep them from telling your school you attempted to cheat.
• Public Wi-Fi Fraud: Students often head to restaurants, libraries, parks and other public places to do homework, banking, communicate with friends or just surf the internet on their laptop. That make them vulnerable to hacking. Don't do anything on a public network that requires you to use your password or post personal information.

These are just a few of the scams and frauds that you should be aware of whether you go off to college or remain home. There are plenty of people that would like to take advantage of your trusting nature and clean out your and/or your parents bank account.