Leading a hectic life can make it even more likely that someone will fall victim to a scam – and when students are busy settling in for the new university year, this can be a key time for criminals to strike.

Students may have new bank accounts to arrange, technology to set up and payments and loans to move around – as well as new services or subscriptions to set up if they’ve just moved into new accommodation.

The various admin tasks could make it more likely that students are expecting to receive some sort of communication about their finances.

And this, in turn, could make some messages from scammers appear more plausible.

Nearly a quarter (24%) of students have encountered delivery service scams in the past year, according to a 2024 Student Living Index from NatWest, which involved research among more than 6,000 students living in the UK.

One in 11 (9%) students have encountered bank scams in recent months, 6% are concerned about social media account hacking, and 4% have encountered or fallen victim to fake goods being advertised on social media.

One in 20 (5%) have also spotted fake HM Revenue and Customs (HMRC) tax rebate scams.

The Students Loans Company (SLC) also recently reminded students to be vigilant around fake text messages.

Scammers will target students over the autumn term as they receive their maintenance loan payments – and SLC says it will never ask students to provide or verify their personal or financial information via email or text.

Last year it stopped £2.9 million of maintenance loan payments being taken by smishing and phishing scams, where students had acted on bogus communications.

To help students to spot the telltale signs of fraud, Tulsi Narayan, Mastercard’s senior vice president, cyber and intelligence Europe, has some tips to spot the telltale signs of a scam:

1. Beware of phishing attacks

Phishing happens when criminals use scam emails, text messages or phone calls to pretend to be from reputable companies. They may be trying to steal your personal information or your cash.

“At this time of year, scammers are on the lookout for opportunities to launch phishing attacks, taking advantage of your busy preparations and online activity,” says Narayan.

“Watch out for fake online shops with too-good-to-be-true discounts on seasonal items or emails promising exclusive deals. These scams are designed to steal your personal information and money.”

Websites can be cloned so check the URL carefully and keep an eye out for red flags such as a lack of contact information.

2. Avoid imposters

Narayan warns that scammers can phone or send messages pretending to be someone else, such as a student finance officer warning of late payments to trick you into sending money.

She suggests: “If you receive a call involving money, hang up and contact the organisation directly using a verified number rather than the one provided by the caller.”

Remember that many banks have signed up to the 159 service – which allows people who are concerned about potential scams to get through to their account provider using a memorable number.

If the worst does happen, it’s also worth bearing in mind that new fraud reimbursement rules came into force from October 7.

These require banks to reimburse people who are tricked into transferring money to a fraudster from this date onwards – although of course it’s best to avoid being scammed in the first place, where at all possible.

3. Be careful with online lectures or tutor sessions

As you get your timetable for a new university term, it may be that some of your lectures or tutorials are online.

Narayan says: “When joining these online sessions, it’s worth checking first to make sure you’re clicking on the right link. Only use trusted platforms and official university services when clicking on links.”

4. Think before you post

You may want to show friends and family members the fun time you’re having at uni, but Narayan suggests being cautious about what you share on social media – and this also goes for university-related posts.

She explains: “Revealing too much information, such as your course schedule, location, or even details about your university, can leave you vulnerable to scammers. Instead, share general updates instead and keep your privacy settings tight to control who can see your posts.”

5. Consider segmenting your home Wi-Fi

Narayan says: “If you live in a student house and have a computer or tablet that you take to university and connect to a public Wi-Fi, consider segmenting your home Wi-Fi. This will keep anything malicious off your main home network.

“When your friends come over, have them connect to a guest Wi-Fi, ensuring anything risky on their device doesn’t infect your network.”

6. Secure all your devices

Ensuring that all devices are secure is vital, says Narayan.

She suggests: “Install the most recent antivirus software, use strong and unique passwords, and enable two-factor authentication (2FA) whenever possible. It’s also worth making it a rule to avoid downloads from untrusted sources, and never share passwords.”

7. Set up account alerts

Many banks offer alerts for transactions, which can help you to keep an eye on big purchases – and spot any suspect payments.

Narayan says: “By setting up these alerts, you can be immediately notified of any unexpected charges or account changes. You can customise these notifications to include alerts for transactions over a certain amount, international purchases, or any attempt to change account settings.”

Some people may want to have a digital wallet for all their “go-to” cards.

Narayan adds: “Digital wallets use tokenisation to protect your card details, reducing the risk of your information being stolen during a transaction.”

8. Monitor your bank statements

Narayan says: “Keep an eye on your bank and credit card statements, especially during term time, whether you’re buying study materials online or going out with friends.

“Review your financial statements regularly. If you spot any suspicious activity, report it immediately to your bank or credit card company. They may suggest freezing your card or issuing a new one to prevent further unauthorised transactions.”