Nov 6 / Admin

New Scam Alert: Potential Fraud Schemes Targeting Individuals Seeking Federal Student Loan Forgiveness

FBI Public Service Announcement Alert Number I-101822-PSA 

Cybercriminals and fraudsters may purport to offer entrance into the Federal Student Loan Forgiveness program, contacting potential victims via phone, email, mail, text, websites, or other online chat services. Cybercriminals and fraudsters use their schemes to receive payment for services they will not provide or collect victim information they can then use to facilitate a variety of other crimes. Entrance into or assistance with any federal student aid program through the Department of Education or their trusted partners never requires payment.

  • Scammers often use electronic (email, text, website) communication methods to explain how a recipient qualifies for government aid and claim to need information or money from the victim to complete the application process. They may email or text the victim, with a body of text containing a link to follow. Once a victim clicks on what is thought to be a legitimate link to the official federal website, the website will request personally identifiable information (PII) such as name, social security number, date of birth, current and previous addresses, phone numbers, email addresses, mother’s maiden name, or social media handles to complete the process.

  • Websites may solicit financial information such as bank account and routing numbers, credit or debit card numbers, digital wallet addresses, or other peer to peer money service transfer account information to process an application fee or complete the application process.

  • Phone scammers may call victims claiming to be representatives of a bank or the Department of Education and ask for the victim’s PII and financial information to begin the application process for loan repayment.

Find out more with the original article here.

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