Soon, there will a crispness in the air, yet the surroundings are already electric with excitement. It’s back-to-school time, and for college students, that means a new year of adventure and growth.
College students already juggle a lot. And parents have plenty of anxiety with their loved ones away. Just don’t let this golden opportunity be soured by those who prey on the unsuspecting.
“Our goal is never to frighten you,” said Kimberly Reece, Customer Advocacy manager for the Financial Crimes Unit at Regions Bank. “Instead, we want to make sure you’re aware of various back-to-school scams.”
10 Tips to Avoid Back-to-School Scams
- Protect Your Privacy – Take reasonable care around what is posted to social media. For example, never post your address, dorm room, license plate or phone number.
- Campus Safety Comes First – Walk in groups, don’t use unsecured Wi-Fi and get where you need to go using well-traveled and well-lit areas.
- Be wary of unsolicited messages – All those forms you fill out give criminals added access to your information. Scammers use this information to try to get you to bite on scam texts and phone calls, most of which demand urgent responses. If you don’t recognize the number, don’t respond. If you do recognize the number, go to the official website for more information.
- Beware of identity theft – Back-to-school leads to a flurry of activity, and criminals try to take advantage in numerous ways, including fake credit card applications, fraudulent meal-ticket offers or via spoofed websites requesting your personal information.
- Avoid becoming a money mule – Criminals often recruit students to help launder illicit money. The recruitment often begins with unsolicited messages for help and often includes quick cash for anyone who responds.
- Be wary of fraudulent FAFSA sties – You may get an offer for a third party to help you obtain federal loans for help with school expenses. Just remember, you can deal with the U.S. Department of Education directly at the official website.
- Beware of fake student housing sites, especially for out-of-state students – Rental scams are common, offering low-cost housing that may not exist. Scammers most often prey on out-of-state students who aren’t as familiar with housing options as locals.
- Don’t fall for fraudulent scholarship offers – Congrats! You’re being selected for this great offer. First step: go to the school’s financial office to confirm.
- Don’t trust make-money-fast scams – Scammers flood new students with offers of a quick buck or a great deal, from fake job offers and fake scholarships to selling your study notes or even the chance to get in on a can’t-miss investment. Remember, they see you as vulnerable and want to take advantage.
- Above all else … STOP. CALL. CONFIRM. – Before you make a move, do your research. Often, a pause and a little extra consideration will save you in the long run. Regions customers who have a problem can call 1-800-REGIONS.
“Awareness is the best way to protect yourself and your loved ones, as well as your finances,” Reece said. “At Regions, we do everything we can to educate our clients and the public on threats to their personal and financial safety.”
Regions customers who have a problem can call 1-800-REGIONS.
In addition, more than 430 Regions branches now have Saturday banking hours, providing extra help when you need it most.
Additional Resources from Regions.com
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The information presented is general in nature and should not be considered, legal, accounting or tax advice. Regions reminds its customers that they should be vigilant about fraud and security and that they are responsible for taking action to protect their computer systems. Fraud prevention requires a continuous review of your policies and practices, as the threat evolves daily. There is no guarantee that all fraudulent transactions will be prevented or that related financial losses will not occur. Visit regions.com/STOPFRAUD or speak with your Banker for further information on how you can help prevent fraud.