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A Back-to-School Scam Primer

Keep your favorite student safe from first grade to college graduation with a few simple steps along the way.

By Doug Segrest | August 10, 2023

It’s time to go back to school. It’s an exciting time for parents and students, offering a new year of adventure and growth.

For the Doing More Today team, it’s a fresh opportunity to remind our readers to stay safe – especially from financial predators who often use change as a chance to scam the unsuspecting.

“Scammers always look for ways to take advantage, especially when you’re facing something new or are busy just trying to keep up,” said Jeff Taylor, head of Commercial Fraud Forensics at Regions Bank.

So consider these back-to-school suggestions to help you avoid becoming a fraud victim, from the time your child starts school to the time they earn a degree.

Elementary School

Back in the day, the quest to fill your school supply list was an all-day affair. Mom, with kids in tow, hit multiple stores fulfilling teacher requests. Now, things are a little easier. Many schools provide pre-packaged, shrink-wrapped supplies you pay for in advance and pick up on the first day of school.

Others simply provide a list and let families shop online.

“That’s where you can get in trouble,” Taylor cautioned. “You need to know you’re purchasing from a trusted website, because the scam is pretty simple when it works: you pay for something, and you never receive it.”

You need to know you’re purchasing from a trusted website, because the scam is pretty simple when it works: you pay for something, and you never receive it.Jeff Taylor, head of Commercial Fraud Forensics at Regions Bank

Middle School

As with the fake school supplies scam, a fear at all levels is someone stealing your child’s personal information by penetrating the school system’s network to glean data. By doing so, scammers acquire info on minor children, ranging from Social Security numbers to addresses and phone numbers, then develop synthetic identities they can use to create fake credit cards or take out loans in your child’s name.

“As a parent, the main thing I would ask the school system is, ‘What are you doing to protect my child’s information?’” Taylor said. “Do you have proper firewalls? Do you have plans if the data is breached?”

A more proactive approach is to use a monitoring service to keep track of personal information on the dark web and for changes in your credit report, including alerts of new credit requests, Taylor said.

“They may require a paid subscription, but there are a number that have a longstanding reputation for great service.”

High School

This is the age where children begin showing more independence, driving cars, paying bills and working part-time jobs. For parents, it’s a wonderful time to open a student checking account, which comes with more responsibility.

First step: teach your child basic financial education on budgeting, spending and savings. Most banks have easy-to-use free financial education services, such as Regions’ My GreenInsights.

Second step: instruct your child not to share their checking account information freely. This is the age students might be intrigued by marketing offers on their personal devices.

“You never want to provide your bank routing and account number or your debit card number to someone you don’t trust,” Taylor said. “Because, by doing so, you’re giving them total access to your checking account.

“If your student needs to order something online, use your parents’ credit card – then pay them back – instead of your own debit card. As a parent, monitor your child’s account for anomalous activity. That could be a store charge on the West Coast when you live in the Southeast. Also, check to make sure your child hasn’t overdrawn their balance.”

Finally, be aware of social media use – especially what your student shares with others. Fake social accounts make a living from posing as friends and getting information that can be used in nefarious ways.

“It’s easy to get duped,” said Kimberly Reece, of the Regions Fraud Strategy Customer Advocacy Team. “The goal of social media is to network and make friends, but not everyone out there has sincere intentions.”

You never want to provide your bank routing and account number or your debit card number to someone you don’t trust. Jeff Taylor, head of Commercial Fraud Forensics at Regions Bank

College

Your child has flown the coop. They’re paying their bills. Studying (hopefully) on their own.

And they may be trying to keep up with the Joneses.

Scammers take advantage of this by creating transaction mules. It could start with someone at the student union flashing cash, bragging about how easy it is to make money. That get-rich mentality can appeal to someone who’s trying to figure out how they can afford a burger at lunch or a date on Saturday night.

“Fraudsters recruit students, making it look easy to earn a little money by doing a simple favor,” Taylor said. “They’ll convince the student, ‘We’ll send you the money. We just need you to write a check or send a wire to this person to cover.’”

So, if you’re a college student and you get approached by a get-rich-fast artist, tell them no.Jeff Taylor, head of Commercial Fraud Forensics at Regions Bank

Once the student turns over just a little key information, scammers have enough to create fake accounts or credit cards in the student’s name.

“The tendency is to not safeguard our children’s personal information as closely as we do our own,” Taylor said. “At that age, life is fast and exciting for all of us, and we let our guard down.

“So, if you’re a college student and you get approached by a get-rich-fast artist, tell them no. If you get a message from someone you don’t recognize, don’t respond. If you get an unexpected attachment or link, don’t click on it. And keep your children informed about the latest scams to help keep them safe.”