Scammers Target UK Independent Schools with Phishing Scams to Steal Millions in Fee Payments
A recent study has revealed that hackers are increasingly targeting independent schools in the UK, attempting to intercept fee payments from parents of international students. The scam typically starts with a phishing email sent to parents, supposedly from the school's bursar, asking them to pay tuition fees to a different account than usual. The emails often offer discounts, sometimes as high as 25%, to lure parents into making a payment.
The scammers usually exploit vulnerabilities in the communication channels used by schools, such as email or WhatsApp groups, and try to find weaknesses in these systems. Many schools have multiple ways of communicating with parents, which makes them easier targets for hackers. The scammers also try to exploit various payment methods, including wire transfers, cheques, cash, debit cards, and credit cards.
According to the managing director of Iris Education, a software company that carried out the research, many schools are doing everything right in terms of traditional processes, but these very processes have become vulnerabilities that criminals can easily exploit. The study found that all 100 surveyed independent schools had been targeted by scammers at least once over a five-year period.
The average amount lost to the scam was Β£3,200, although some families lost as much as Β£10,000 after being duped into sending money to the bank account of a criminal. Parents of international students are often the most susceptible to these scams, as English may not be their first language and they can miss warning signs that the email is fake.
Parents are advised to be on the lookout for any suspicious messages that attach an urgent sense of payment, such as invoices sent at unusual times of the year. If anything raises alarm bells, parents should contact the school through official channels, rather than using a phone number or email address from the suspicious message. They should also report the incident to their bank and the National Crime Agency's Report Fraud service.
The scammers' tactics are becoming increasingly sophisticated, with some hackers even stealing sensitive data from companies that manage visas for international students. The UK independent school sector is under threat from these phishing scams, which can have serious financial consequences for families who fall victim.
A recent study has revealed that hackers are increasingly targeting independent schools in the UK, attempting to intercept fee payments from parents of international students. The scam typically starts with a phishing email sent to parents, supposedly from the school's bursar, asking them to pay tuition fees to a different account than usual. The emails often offer discounts, sometimes as high as 25%, to lure parents into making a payment.
The scammers usually exploit vulnerabilities in the communication channels used by schools, such as email or WhatsApp groups, and try to find weaknesses in these systems. Many schools have multiple ways of communicating with parents, which makes them easier targets for hackers. The scammers also try to exploit various payment methods, including wire transfers, cheques, cash, debit cards, and credit cards.
According to the managing director of Iris Education, a software company that carried out the research, many schools are doing everything right in terms of traditional processes, but these very processes have become vulnerabilities that criminals can easily exploit. The study found that all 100 surveyed independent schools had been targeted by scammers at least once over a five-year period.
The average amount lost to the scam was Β£3,200, although some families lost as much as Β£10,000 after being duped into sending money to the bank account of a criminal. Parents of international students are often the most susceptible to these scams, as English may not be their first language and they can miss warning signs that the email is fake.
Parents are advised to be on the lookout for any suspicious messages that attach an urgent sense of payment, such as invoices sent at unusual times of the year. If anything raises alarm bells, parents should contact the school through official channels, rather than using a phone number or email address from the suspicious message. They should also report the incident to their bank and the National Crime Agency's Report Fraud service.
The scammers' tactics are becoming increasingly sophisticated, with some hackers even stealing sensitive data from companies that manage visas for international students. The UK independent school sector is under threat from these phishing scams, which can have serious financial consequences for families who fall victim.