By Rocky Fong
Sponsored by JPMorgan Chase & Co.
Rocky Fong
“Back-to-School season is here, and it’s crucial to stay vigilant against scams targeting students and their families,” says Rocky Fong, community manager at Chase. Last year, families spent $41.5 billion on school shopping, averaging $890 per household. Aware of the busy season, scammers have developed sophisticated tactics to steal personal information and money, making it hard to distinguish scams from legitimate efforts to assist students.
With kids increasingly active online, they are particularly vulnerable to scams. A 2022 report revealed over one million children were affected by identity fraud and data breaches.
“Ongoing conversations about fraud dangers and best practices for using technology are essential,” added Fong, who provided some tips on how to avoid certain scams.
Top back-to-school scams and how to avoid them:
Textbook rental and school supplies scams: Fake online stores offer discounted supplies, but deliver substandard or nonexistent products.
- Tip: Purchase from verified retailers and use official payment channels.
Scholarship and financial aid scams: Scammers promise loan forgiveness, pretending to be from reputable companies or agencies.
- Tip: Ignore unknown calls and messages. Guard your student loan information and monitor financial accounts closely.
Student identity theft: Scammers access school databases to extract personal information.
- Tip: Keep important documents safe and opt for paperless billing. Avoid public Wi-Fi for personal business and use complex passwords.
Roommate scams: Fake rental listings lead to lost deposits and no place to live.
- Tip: Confirm the property exists before any transactions take place. Never send cash to strangers or share personal information.
Tech support scams: Scammers pose as school technicians needing to install software.
- Tip: Never give anyone access to your computer and keep login credentials secure.
Job scams: Fake job postings lead to sharing personal information.
- Tip: Be wary of unsolicited offers and submit information only through trusted websites.
Protecting kids from online scams:
Protect personal information: Kids should understand the importance of safeguarding personal information.
- Tip: Regularly discuss online safety and the dangers of sharing personal information.
Think before clicking: Teach kids to avoid online quizzes or trivia asking for personal data.
- Tip: Warn them about unfamiliar links and too-good-to-be-true deals.
Spot imposter scams: Teach kids to recognize scams posing as trusted institutions.
- Tip: Explain that banks will never ask for personal information via email, text, or call.
By staying informed and vigilant, you can protect your family from back-to-school scams. To learn more about the latest scams and how to protect yourself, visit https://www.chase.com/security-tips.