New data has revealed young people (those between 11 and 29) lost £143.7 million to fraud in 2023, with almost 69,000 cases being reported.
Action fraud has now launched a student safety campaign revealing the top five frauds for students and young people to look out for:
- Investment fraud (£29.5m) – often offered on social media and involving cryptocurrency or schemes that offer high return on investments.
- Fake jobs fraud (£150,000) – looking for payments for fake consultations and personal information, but there is no job there.
- Rental fraud(£4.3m) – targets students looking for accommodation. Make sure you see property first before paying any money.
- Online shopping fraud (£9m) – hard to spot as fake websites have been created or replication of legit ones! They want your personal and financial details to sell on.
- Ticket fraud (£1m)- targets students with fake tickets for high in-demand events. Students looking for cheap deals on freshers’ events can also be targeted.
If you have been a victim of fraud, contact your bank immediately and report to Action Fraud online at actionfraud.police.uk or by calling 0300 123 2040. In Scotland, call Police Scotland on 101.
