September is near here and students are gearing up to return to class. Though it’s an exciting time of year, it also opens the door for potential challenges.
This busy time has become a prime opportunity for scammers looking to take advantage of students returning to school. Three common scams that students face are rental, online purchase, and employment scams.
“As students return to class they are often juggling multiple priorities such as finding an apartment, attending classes, securing jobs and settling into their new spaces, that they may be pushing caution aside as they attempt to make quick decisions or get the best deals. Scammers see this as an opportunity to exploit students whose minds are too preoccupied to spot the scam.” shared Neesha Hothi, BBB Director of Marketing and Communications.
The Better Business Bureau is out to help with these tips on how to spot scams targeting students.
RENTAL SCAMS
Rental scams can cause a lot of financial damage as students search for a place to live for the school year.
Stay alert and safe with these BBB tips when looking for a rental:
Always see the property in person or send a friend. An online advertisement can be a dupe and may not accurately depict the space. Check the space to confirm all the details.
Don’t send any money via cash transfer apps. Always use established financial institution apps to transfer your money, always send to a matching email address, and never send money to someone out of the country.
Ensure a proper tenancy agreement is drafted and signed by both parties. This agreement should include names and addresses for the landlord.
Search online for similar postings. Scammers may use the images and content of a rental posting from another region to create a fake listing. Their goal is to have you enter an agreement to rent the space and send over the first month’s rent and security deposit, after which they might disappear – with your money.
This Vancouver student was scammed in 2023 and is a perfect example of how scammers operate:
ONLINE PURCHASE SCAMS:
In 2023, online purchase scams were among the most popular types of scam reported throughout the year, with the 18-24 year olds listing the most.
Practice caution when shopping online and always try to use reputable websites:
Don’t shop on price alone. Scammers offer hard-to-find products at great prices.
Avoid spontaneous purchases while browsing social media. Scammers advertise websites that offer great deals hoping you’ll buy without a second thought. They either don’t deliver the product at all or will deliver counterfeit products.
Don’t buy online unless the transaction is secure. Make sure the website has “https” in the URL (the “s” is for “secure”) and a small lock icon on the address bar. However, even secure websites can be fraudulent, so always do your research on the company before buying.
If using an online marketplaces, see the product with your own eyes first and don’t pay upfront or “holding” fees. Look for irregularities in the post or excuses for scheduled meet-ups from the seller to spot the scam.
Use a credit card for payment. Credit card purchase are traceable, meaning they can be digitally tracked so you know exactly what you are being charged for and by what site. Many credit cards also offer fraud protection and purchase insurance, meaning you may have a way to get your funds back should something be amiss. Always report any suspicious transactions.
EMPLOYMENT SCAMS
Employment scams are rising in notoriety amongst students. Two of the most common examples are 1) when scammers ask you to pay for equipment you need such as laptops or other technology with the promise of being reimbursed with your first cheque. That cheque may come but may not be cashable and you will be out the costs of this ‘equipment’. And 2) when scammers mimic other job postings or create a fake one, with the intention of garnering your banking details and personal information.
