The university term is just around the corner. Meanwhile, elementary, Central, and High Schools have already kicked off the new school year. It’s a busy time.
Students are learning their new schedules, adjusting to different classes and teachers. Parents have their hands full—who’s dropping the kids off tomorrow? Are the lunch accounts funded? When’s tuition due? And do those older kids in college have the funds they need?
We get it. The back-to-school season can be overwhelming.
Scammers understand this too.
It’s prime time for them to take advantage of all the changes that come with a new school year, and they’re poised to infiltrate your finances.
This is why regional banks often emphasize fraud prevention information targeted at schools throughout the year.
“We understand what people need to keep their finances secure,” says Jeff Taylor, the local director of commercial fraud forensic medicine. “We’re parents as well, so we experience the same types of solicitations—texts and emails—that everyone else does. Our aim is to blend our financial expertise with our understanding of fraud to help people better recognize and avoid scams.”
For parents: Safeguarding your family
Watch out for fake websites and sellers. The start of the school year typically means purchasing supplies, books, and technology. One common pitfall is falling for counterfeit websites that offer enticing deals on school supplies or dubious bookstores claiming to sell hard-to-find textbooks. “That’s where the trouble starts,” Taylor cautions. “You must ensure you’re buying from a reliable source. It’s easy to get scammed—often, you won’t receive anything at all.”
Be cautious on social media. Social media platforms are popular for parents wanting to connect, but not everyone has noble intentions. “It’s easy to be misled,” says Kimberly Reese from the customer advocacy team for local fraud strategies. “While social media aims to foster connections, not everyone involved is sincere.” Be vigilant when you encounter back-to-school promotions or groups online, and avoid sharing sensitive information.
Keep an eye on your financial accounts and report anything suspicious. Regularly check your bank and credit card statements, or even better, use your banking app to set up notifications. Transaction alerts allow you to keep tabs in real-time. If you spot any odd emails, phone calls, or websites, report them to the Federal Trade Commission or your local Consumer Protection Agency. Swift reporting can help prevent others from falling victim.
For older students: Self-protection as you return to school
Scammers often target the mix of excitement and stress that comes with going back to school, offering false financial aid, fake scholarships, or fraudulent housing opportunities.
Be alert for financial aid fraud. Always exercise caution when receiving scholarship, grant, or loan offers that require upfront fees or personal details like your Social Security number or banking information. Verify any offer through your school’s official financial aid office or reputable scholarship websites before acting.
Safeguard your digital identity. Your online accounts—email, student portals, financial services—hold sensitive information. Use robust, unique passwords, enable two-factor authentication when possible, and avoid reusing passwords across different sites. Be wary of phishing attempts, which may include deceitful emails or messages pretending to be from educational institutions or banks asking for account verification or personal details. If in doubt, avoid clicking any links and manually navigate to the official website instead.
Regularly monitor your financial accounts. Just like parents are encouraged to keep an eye on their finances, students—who may be less familiar with managing their accounts—should do the same. Set up alerts for transactions to catch any suspicious activity early.
Report any suspicious activity promptly. Should you receive strange emails, phone calls, or notice unauthorized fees, report them immediately to your school’s fraud office, bank, or the Federal Trade Commission. Quick reporting helps protect you and others.
Stop. Call. Confirm.
Pause before responding to any requests for money, personal info, or urgent actions, especially those received through email, text, or phone. It’s wise to call the organization directly using a known number to confirm the legitimacy of any request. “If anything seems off, trust your instincts. Before you risk anything, implement safeguards to review payment requests or changes,” advises Taylor. This simple practice can help you avoid costly mistakes and shield your family from fraud.
Staying informed and cautious allows you to focus on your studies while keeping scammers at bay.
