Fraudsters are targeting university students ahead of the annual September payout of £2.6bn in student maintenance funds, hoping to siphon off money from already anxious new attendees.
The scam typically involves a text message sent a few days before the first loan payment is scheduled to land in the student’s account. The message warns that someone has attempted to alter the account’s bank details.
“Our records indicate that your bank details on your student finance account were changed on Friday 16th. If you did not do this please contact us immediately,” the fraudulent text reportedly reads.
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