Phishing Scam: Student Loans Threatened

In a fraudulent e-mail scam, about 50 students in Yorkshire had been duped. These students had witnessed the sudden loss of their loan payments after disclosing their personal details in e-mails, as reported by YORKSHIRE POST on April 02, 2011.

A forged e-mail masqueraded to be sent from the Sheffield Hallam University triggered victims to provide all personal details to check, if they qualify for receiving a new bursary or extra financial support.

The phishing e-mail facilitated cyber hackers to interrupt student loan allowance. It was carefully timed to co-ordinate with the summer term student loans. In no time, 50 victims realized the loss in their loan transaction.

The Head of the South Yorkshire Police Economic Crime Unit, Graham Wragg pre-cautioned people against fraudsters. He justified his verdict by convincing people that legitimate banks and organizations do not enquire and seek personal details via e-mails or websites, as reported by The Star on April 8, 2011.

He also added that, any suspicious activity should be made clear by calling back the organization involved and asking them for a written confirmation.

A second year public relations student hailing from the Hallam University, Jenny Saunders (20), lost £2,460 in this deal and is thinking to give up the course, if she does not receive the money back. According to Mr. Wragg, organized crime as discussed above is supposed to have a specific motive behind such act, as reported by The Star on April 04, 2011.

Nonetheless, an investigation is in progress to find out how the information was changed in 50 loan payment details, which were to be accounted to the undergraduates during the last month (March 2011).

Students receive maintenance loans thrice a year and it is suspected that through these kinds of scams, tens of thousands of pounds would have been diverted. The President of the Students' Union at Sheffield Hallam University, Caroline Dowd has cautioned students against these kinds of threats. She has also asked them not to disclose their personal details, as reported by the YORKSHIRE POST on April 08, 2011. South Yorkshire Police has also recommended students to contact them for assistance, in case of any kind of suspected unconscious entanglement with the crime.

Related article: Phishing With A Redirector Code

» SPAMfighter News - 4/12/2011