Money Scams, Tricks and Frauds
Salford is generally a safe place to study but students at any university need to be vigilant about being targeted by fraudsters. Unfortunately, some criminals may attempt to target you for purposes of Money Fraud.
- Never share your bank account or debit/credit card details with anyone unless you know and can trust them.
- Never email your credit or debit card details to anyone, even the University.
- Be wary of offers of easy money. If it sounds too good to be true, then it probably is.
- Be observant for communications like ads and emails with bad spelling and grammar.
- Don’t allow someone that you do not know or trust to transfer money through your bank account.
If someone contacts you and it seems unusual or unexpected, then contact the University and we will offer you some advice. If the person who contacted you is genuine then they won’t mind you checking and then getting back to them.
Below are some of the known money scams, tricks and frauds that we are aware of and advice on how to safely pay your tuition fees.
You may be asked to receive some money into your bank account and transfer to another account, keeping some for yourself. Don’t be fooled by quick cash offers. Be very wary of anyone, including someone you know, who asks you to do this.
This may be a fraud called ‘Money Laundering’ and is used to fund serious criminal activities. Money Laundering is a criminal offence and may land you in serious trouble with the Police, affect your credit rating and result in your bank accounts being frozen.
Purchasing currency via non-regulated markets
We have a responsibility to make you aware, that by purchasing currency via non-regulated markets you are opening yourself up to a risk of being perceived by UK authorities to be engaging in a form of money laundering.
Third Party Tuition Payer Scam
This is a scam that affects mainly students from the Chinese community, however it has also impacted other students. Students are targeted by fraudsters who offer to go online and pay your tuition fees at a discounted exchange rate, sometimes up to 20%.
The fraudsters may contact you via WeChat or even on the streets in cities’ Chinatowns and offer these discounted ‘exchange’ rates if you agree immediately.
You will be asked to pay money to the fraudster, who will then pay the University. Sometimes the fraudster even pays the University before you pay them, they then show you the email receipt to prove its paid. This is a method used to lure you into the scam by giving you confidence that the fee is paid.
The fraudsters are in fact using compromised (stolen) debit/credit card details to pay your fees to the University. These payments are then reported as fraudulent by the genuine card holder and recalled by the bank, meaning the money is taken back from the University leaving you in debt with your tuition fees and out of pocket.
Never agree to pay your fees in this way. To be safe you must always pay your fees as directed below.
Further information can be found in the following leaflets:
Safe ways to Pay your fees
All students are advised to pay online on the university payments page directly themselves or by international bank transfer using Flywire. You can find further information on the University Tuition fees pages.
Student Loan Company Fraud
Fraudsters have been sending phishing emails to students posing as the Student Loans Company (SLC) asking for personal information.
The SLC will never ask you to confirm your login and password or ask for bank details or personal information by email.