NatWest, Mastercard and the Home Office team up to keep students safe from fraud.
- As two million students head to university this autumn, analysis shows they risk losing an estimated £20m1 to scams this year.
- University students are twice as likely (69%) to encounter a scam than those not in higher education (36%), with 78%2 of those targeted saying it happened within their first term.
- Fake job ads, purchase fraud, and crypto or investment scams are the most common threats students will encounter.
- NatWest, Mastercard and the Home Office are urging students to ‘Stop! Think Fraud’ to protect themselves and have published a series of bold scam-warning posters, created by up-and-coming UK artists, released today to help universities and students to stay vigilant.
London, 14 October 2026 – University students are almost twice as likely to encounter a scam as those not in higher education, according to new research from Mastercard and NatWest Group, with 69% having encountered a scam compared with 36% of the wider population. Of the students who had encountered a scam, 78% said it happened within three months of arriving on campus.
The findings come as two million people head into, or back to, higher education this autumn, including around half a million freshers who may be managing money independently for the first time. Analysis from NatWest suggests students could lose an estimated £20 million to fraud this academic year.
And while students are highly exposed to scams, many don’t feel equipped to spot them. Just 27% feel very confident they could identify a financial scam3, according to NatWest’s Student Handover Report, which asked more than 5,000 current UK undergraduates about the money lessons they wish they’d known before starting university and would pass on to the next intake.
NatWest, Mastercard and the Home Office have joined forces to urge students to Stop! Think Fraud, with advice for students based on the latest threats. The tips launch today alongside a series of bold scam-warning posters, created by up-and-coming UK artists, to help students stay vigilant whether at home or on campus.
Fraud Minister Lord Hanson, said: “Fraudsters continue to prey on freshers, using bogus job adverts, fake flats and scam investments to steal their money. We’re joining forces with NatWest and Mastercard to expose the scammers and protect students.
“I urge every student to Stop! Think Fraud. Taking a moment to check could stop fraudsters from emptying your accounts at the start of a new term.”
New undergraduates face a host of unfamiliar financial responsibilities in their first term. One in three are budgeting (36%) and finding paid work (36%) for the first time, while three in 10 are acclimatising to managing student finance payments (30%) and paying rent (29%).
Fraudsters are quick to exploit this learning curve to catch students out. The research finds the most prevalent scams heading into the new academic year are fake job adverts and money-making schemes through seemingly legitimate or recommended Investment platforms (37%), bogus online marketplace listings (36%) and banking and crypto scams (32%).
Simon Forbes, President, Mastercard UK & Ireland, comments: “Students often get their first taste of financial independence at university, which comes with new risks. Fraudsters are constantly evolving their tactics, which is why being scam aware has never been more important.
“Students can also be safe in the knowledge that they’re not alone. We’re constantly working with partners like NatWest to develop new technologies and safeguards, identifying and flagging potentially fraudulent transactions before they take place.”
James Holian, Chief Customer & Operations Officer at NatWest Group, said: "Starting university is an exciting time, with new friends, new experiences and plenty of decisions to make. For many young people, it may also be the first time they are managing large amounts of money on their own.
“Fraudsters often target students with many scams beginning on social media. Understanding the warning signs and taking a moment to pause before acting can make a real difference. At NatWest, we want students to feel confident about protecting themselves and their money. That means we continue to invest and innovate to keep our customers safe, while sharing simple, practical advice that can help.
“Fraud is a serious issue and tackling it requires collaboration across the industry. Through our work with Mastercard and the Home Office, we’re giving students practical tools and guidance to help them stay safe - not only as they begin university, but throughout their studies and beyond.”
Top fraud traps
To help raise awareness of the top traps that have been set for students, Mastercard, NatWest and the Home Office have created a series of bold posters designed to look at home on university noticeboards and dorm room walls. The posters, created by leading UK designers Luke Insect, Gavin Connell, and Samuel Tomson, turn fraud-prevention advice into bold artwork.
The posters are available to universities and student unions across the UK free of charge, putting practical fraud prevention advice in front of students when they need it most.
The collaboration builds on the work of the National Fraud Strategy, which sets out how government will work with industry to dismantle criminal networks, bring offenders to justice and protect the public from the crime.
Advice
- Slow down before you invest - Use the Financial Conduct Authority Firm Checker to check an investment firm is authorised before you invest.
- Seen an offer you don't want to miss? Check seller reviews on trusted websites and verify that the deal is genuine.
- Walk away if you’re promised easy money for a job, asked to pay before being paid, or offered cash to let someone use your account.
- Found the perfect place? View the property in person with the letting agency before committing or transferring money
Notes to Editors
1 Estimate based on analysis on customer scam reports for 16-25 year olds between July 2025 and June 2026. UK wide figures have been estimated by extrapolating from NatWest Group’s market share, assuming a proportionate volume and value of cases across customers of other UK banks.
2 Research of 1,000 university students and 1,000 UK adults (weighted to be representative) carried out by British Polling Council member Censuswide between 18th and 23rd September 2026.
3 Survey of 5,019 undergraduate students who attend universities in the UK, carried out by Savanta and conducted online between 24 June – 13 July 2026. No weighting applied.
Posters
Digital versions are available:
Universities or students who would like to receive a physical copy of the posters can contact StudentScamPosters@theAcademyPR.com
NatWest Fraud Triage Agent
NatWest recently launched a Fraud Triage Agent within Cora, its digital assistant. Customers concerned about a suspicious credit card transaction can explain what happened and receive guidance to the most appropriate fraud, scam or dispute team or service, instead of categorising the issue themselves. The personalised tool and AI-driven fraud detection will help customers get the right support through a familiar channel at what can often be a stressful moment, reducing effort and helping resolve concerns more quickly.
NatWest Group Resources
Security Centre | Fraud and Scams | NatWest
Security Centre | Fraud and Scams | Royal Bank
Security Centre | Fraud and Scams | Ulster Bank
Money mule student | NatWest
Money mule student | Royal Bank
Money Mules | Ulster Bank
Mastercard resources
Consumer Fraud Risk
Decision Intelligence for Fraud and Risk Management
