Keep away from ‘phishing’ e-mails!

Imagine the scene: it is student finance day and you, along with hundreds of other loan- reliant students, join the queue outside the bank to tentatively check that money has been credited to your account, only to find that for you, this is not the case. Although I hope greatly that this has never been an occurrence for most reading this, there will be some who can understand the heart-clenching feeling experienced as you dial the Student Finance call centre, only to find out that you have been the victim of a phishing e-mail – or in other words, your money has been stolen.
Unfortunately in the last few years there has been an alarming increase in the amount of fraud cases being processed through the SLC (Student Loans Company) Special Investigations department. One of the main causes of these cases are the evils known as ‘phishing e-mails’. For those not in the know, a ‘phishing e-mail’ is a fraudulent e-mail sent by a fraudster, usually intent on stealing something from you, be it your identity, or, in the case of the recent SLC cases, your log-in details. Usually, this will mean posing as a third party, such as SLC, and asking you to ‘confirm your bank account details,’ or to ‘confirm your password’.
With possession of your password and secret answer, which is, shockingly, all you need to access your private details, the fraudster can enter your student finance account and change the account details that your money is to be paid into. This means that your loan, and grant if you are entitled to one, is paid directly into the bank account of the criminal rather than yours.
Izzy John, the Welfare Officer for the SU, expressed deep concern on the issue, commenting on how “students are being increasingly seen as easy targets, and despite online culture and social networking developing at an exponential rate, people are still not aware of the risks that this poses to their personal safety and security”.
SLC’s Fraud Manager, Heather Laing, says: “We want students to be aware that these scam e-mails are in circulation now and they should not respond to these.”
So for those reading this who think ‘this will never happen to me’, be wary of such a relaxed attitude, as for hundreds of educated and seemingly street-wise students, this was a reality this year, and regrettably will continue to be a reality in the future. It is for this reason that universities, associated Student Unions and the SLC are launching many more efforts than ever before to promote this crucial issue. Unfortunately, in this case, ignorance is definitely not bliss and responding to such phishing e-mails could in fact rob you of hundreds, if not thousands, of pounds.
A spokesperson from the University urged students to take the official advice laid down by the SCL. “Fraudsters could steal your details when you transact online. They do this by tricking you – making you believe you’re sending these details to the Student Loans Company. In fact, the details could be going straight to the fraudsters instead – even if it looks like you’re on our website. To defend your personal details, you need to use antivirus software and a firewall.”
SLC warn students to “ignore messages that tell you to ‘validate your account’ or to provide any personal, security or banking details, as the Student Loans Company will never ask you to confirm your information in this way.” Such information could include asking you for your SLC reference number, you secret question and associated answer, your password or even your bank account details.
It is important to express that if anyone ever receives a dubious e-mail and they are unsure of what to do, the first step is simply to call the SLC helpline and an advisor can easily tell you if the SLC themselves sent the e-mail, and if not, what to do.
However, if you find yourself on payment day having fallen into the carefully planned trap set up by the said fraudster, all is not lost. There are plenty of people on hand both at the Student Loans Company and at Warwick to help. The first step is to ring SLC and find out the exact situation and where you stand in regards to actually receiving your money. You may find that the SLC are simply delayed in their payments, as has happened in some previous years, in which case you have nothing to worry about. However, if you find yourself victim to a phishing-related fraud, then your case will be dealt with by the Special Investigations team within the SLC. In some simple cases, where for example, you can locate the e-mail you replied to as proof of fraudulent behaviour, the process is usually fairly quick. However, in more complicated cases where proof of criminal behaviour is harder to find, the process of you receiving your money could be lengthier.
Luckily for Warwick students, there is an excellent ‘hardship loan’ scheme in place to help students in these type of positions. This is where the student funding team can instantly loan you up to £250 straight up in cash, in order to tide you over until your usual finance is paid.
Any fully enrolled home or international Warwick student experiencing short–term financial difficulties can apply for the loan, though it is expected that students make use of any approved overdraft facility before requesting the loan. Similarly, the SU Welfare team is constantly on hand to help you deal with, what can be for some, a very emotional and stressful time. They can offer practical assistance, such as arranging for your rent to be delayed, or simply providing emotional support whilst you deal with the situation.
Students are one of the most vulnerable groups of people susceptible to phishing e-mails and it is vital to remember that it could happen to anyone.