Students heading to university are being warned about scams targeting young adults as they gain financial independence. Lloyds Bank says this is a period when fraudsters may try to catch people off guard. Lloyds fraud prevention director Liz Ziegler urged students to trust their instincts and walk away from deals that feel dodgy or ask for cash up front.

Data from Lloyds shows that 18 to 24-year-olds lose around £400 on average to purchase scams, with about 79% of incidents starting on social media. From August 2024 to August 2025, the most common purchase scams involved offers of tickets to events such as concerts and festivals. Second were vehicle-related scams, including frauds relating to cars, parts, repairs and insurance. Ghost broker schemes targeting students offer cheap-looking insurance that turns out to be invalid because policy details are altered. Bogus offers of driving tests and lessons were the third most common scam; other frequent tactics include fake offers for clothes, trainers and personal items.

Advisers say students should be careful on social media when shopping online. Real employers do not ask applicants to pay to apply or start work. Do not share bank details or let money move through your account for others. The 159 anti-fraud initiative provides a simple number to call if something seems suspicious. Rental fraud remains a risk, with people paying upfront for properties they do not own or that do not exist; always view a property and check the contract before paying. Co-op Insurance notes that contents could be valued high among students, with valuations sometimes reaching about £50,000. Experts warn that impersonation scams are common; if in doubt, hang up and call the bank back via official channels. TransUnion’s Madhu Kejriwal warned that AI can make scams more convincing for young people.