Families have lost up to £10,000 after being tricked into sending fee payments to fraudsters, according to new research. The scam targets parents of foreign students at independent schools in the UK.
A survey of 100 fee-paying independent schools found all had experienced an attempted or successful cyber-attack, on average once a year. The average loss was £3,200, with some victims losing more than three times that amount.
Simon Freeman, managing director of Iris Education which conducted the research, said criminals monitor school communications and time attacks around fee deadlines. They replicate official payment instructions with remarkable accuracy, often offering discounts of up to 25% to lure parents.
Freeman noted that parents of foreign students are particularly vulnerable as English may not be their first language, making it easier for fraudsters to duplicate documents and convince them of authenticity. The scam often begins with a hack to obtain parent email addresses, sometimes through third-party companies handling visas.
Schools are advised to review their payment processes, while parents should be wary of any unusual or urgent payment requests. Anyone suspecting fraud should contact their bank immediately and report it to Report Fraud.
