Over a quarter (28%) of students have been scammed, according to new research by Nationwide Building Society. And while half (50%) of students worry about becoming a victim, over a quarter (26%) have shared private information and one in six (17%) admit to sharing intimate images of themselves – despite the associated and well-publicised risks (real life examples of blackmail fraud (sextortion) can be seen in Notes to Editors.).
Over the last year, the building society’s fraud team has seen a growing trend of blackmail scams with younger generations targeted on social media platforms.
On blackmail and sextortion scams Annya Burskys, Head of Fraud Operations at Nationwide, said:
“Blackmail scams are often linked to romance scams and are particularly harrowing for victims. Sadly, we have seen a rise in this type of activity. Scammers specialise in developing relationships with their victims, often over time, making them feel comfortable and special. They often share explicit images or personal information first, so the victim feels comfortable or under pressure to reciprocate. Once they have the private images or information that’s when they strike. They will suddenly switch, demand money and threaten to send the photos or information to friends, family and work colleagues. It’s heartbreaking. It’s vital you think carefully before you share anything private and report any form of blackmail or intimidation immediately to Police, family, friends, or your bank or building society.”
(see images from blackmail evidence).
The research also revealed one in six students (17%) are exposed to suspicious content such as scams at least once week. The top types of fraud are purchase scams (fake goods) – experienced by 46 per cent of students, followed closely by the well-known Mum/Dad Whatsapp impersonation scam (39%). Ticket scams (32%), money mules (30%), investment (29%), blackmail scams (29%), romance (24%), rogue traders (10%), tenancy (10%) and deposit scheme (9%) scams make up the list of the most prevalent scams students are being exposed to on a weekly basis.
Nationwide conducted the poll of 2,000 students as part of its efforts in educating people about the risks and signs of fraud. Britain’s biggest building society offers a ScamChecker (0800 030 40 57) to check the validity of any payment they are in any doubt about who they are paying, to check their validity.
Scams are harder to spot, causing worry for loved ones
While students are aware of being targeted by scams, they are also worried about their family and friends falling victim.
Over two thirds (69%) say it has become harder to spot scams, with 62 per cent worrying about parents, grandparents and elderly relatives being scammed and three quarters (75%) concerned about vulnerable people. But the relationship works both ways, with over half of students (52%) relying upon parents and grandparents for advice on finance matters and 58% on university or college advice. If they fell victim some 44 per cent would confide in their family versus just 10 per cent who would report it to the Police and 32 per cent to their bank or building society.
Annya Burskys, Head of Fraud Operations at Nationwide, said: “Scammers are efficient and unrelenting, and this is evident from our research, which shows how commonplace it is in the lives of students. It’s vital we make it as hard as possible for scammers to operate. This means knowing the signs, reporting scams and talking to family, friends and colleagues about the different suspicious content you see so they can take care and keeping your personal information safe. The effects of scams can be devastating that’s why we have our Scam Checker Service to help protect and prevent our customers from failing victim.”
Anyone affected by fraud or scams can find help and support on Nationwide’s website Fraud and security | Nationwide.
Blackmail evidence collected by the Nationwide fraud team, 2024
