MANAGING FRAUD - HEI Services

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Case Studies Continued •Example two - A student has applied with a single sponsor, when indications are that the sponsor has a partner and has made applications in the wider financial services sector as one of a couple. Again, this gives us good reason to enquire into the true circumstances of the application. •Example 2 relates to a returning student under 25 who applied for funding on the basis that she was supported by a single sponsor, her mother. •This match was generated by National SIRA and relates to the household composition. Applications for credit have been made at the address shared by the student and her mother by an undeclared male, including a joint mortgage application. The investigation established that both the student and her mother had made a false statement during the application process. •Outcome – The application has been reassessed to nil entitlement and the student has been deemed unfit to receive any further funding.
Phishing What is phishing Phishing is the term given to a type of fraud which involves a third party emailing an individual pertaining to be from an organisation when in fact they are not. The individual, believing the email to be genuine, verifies a number of personal pieces of information which allows the third party to amend their online records and redirect money to another bank accounts. The SIU track and monitor student accounts if they have been victims of this type of incident, and are involved in the proactive measures put in place to combat further losses. What have SLC done to prevent these attacks • Enhanced our phishing site take down service. • Review and removal of excessive customer data held on online accounts. • Active account monitoring for previously affected and high risk accounts – together with use of IP address searches. • Customer text alerts introduced for students whose bank account details have been amended. • Duplicate bank details reports monitored daily. • Media outreach programme to warn students of the phishing threat • Outbound calling to students identified as being at risk of payment diversion • Use of existing fraud detection tools • Contacting ti universities iti directly if there are specific attacks against their students
Page 1 and 2: MANAGING FRAUD FIONA INNES FRAUD MA
Page 3 and 4: What do we do • The teams are res
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