More than half of students and recent graduates have been scammed at university, as figures reveal the average amount lost is £420
- Survey of 2,000 aged 18-34 found 52% of women and 69% of men were victims
- Nearly a third were conned of more than £500, one in 11 lost over £1,000
- Just 18 per cent said their university warned them about fraud
More than half of students and recent graduates say they have been scammed during their time at university.
According to a survey of more than 2,000 people aged 18 to 34 by Lloyds Bank, 52 per cent of women and 69 per cent of men fell victim to fraud while students.
The average amount lost was £420, but nearly a third of students were conned out more than £500, while one in 11 lost £1,000 or more.
Only 18 per cent said their university warned them about fraud.
According to a survey of more than 2,000 people aged 18 to 34 by Lloyds Bank, 52 per cent of women and 69 per cent of men fell victim to fraud while students (stock image)
Scams ranged from phishing emails offering bogus grants to fake landlords who pretend to rent out properties.
Paul Davis, of Lloyds Bank, said: ‘Younger people still learning how to manage their finances can easily find themselves being targeted by fraudsters.’
It is thought criminals see students as easy prey because they are more naïve about money and yet may have thousands of pounds in their possession from student loans.
The figures come as thousands of youngsters across the country embark on their first year of university, often living away from home for the first time.
Mr Davis said students who receive strange requests for money should contact their banks if they need advice.
He added: ‘Always ring the number on the back of your bank card if you are not sure and remember your bank will never ask you for your personal details or to transfer money to another account.
‘If you’re worried you’ve been a victim, contact your bank immediately so we can try to recover your money. This also allows us to share information across the industry and stop fraudsters targeting others.’
The average amount lost was £420, but nearly a third of students were conned out more than £500, while one in 11 lost £1,000 or more (stock image)
Lloyds supports the banking industry’s voluntary code on authorised push payment (APP) scams, which was introduced earlier this year to make it easier for people to get their money back when they have been tricked into transferring cash to a fraudster.
Mike Haley, chief executive of fraud prevention organisation Cifas, said: ‘These figures demonstrate the worrying issue of young people increasingly becoming victims of fraud.
‘As well as helping youngsters better identify fraud, it is crucial that we also help them to understand the devastating consequences of financial crime and how to avoid becoming a victim.’