Payment security and fraud prevention
For up-to-date guidance on fraud, please reach out to you institution for guidance. In recent years there is an uptick in payment scams targeting college and university students. Some fraud attempts include fraudsters posing as agents offering to handle your fees (potentially at a discount), but here’s the trick: they only pay 1p and doctor the receipt to look like the full amount was paid. You end up paying them, thinking your fees are covered, but they’re not. Later, you find out your fees weren’t covered, and you’ve lost your money.
What can you do before making a payment?
1. Always verify transactions directly with your university.
2. Be cautious of deals that seem too good to be true.
3. Only work with trusted and verified agents.
4. Always be aware about how (in person, chatrooms, social media) you could be approached by fraudsters. If in double, always contact your university.
Read about other common scams and tips to prevent them on our blog. You can also download our fraud resources here.
Please use your institution’s official and authorized payment partner, platform, and process to make a payment. If you are suspicious of any contact, always use official phone numbers, online accounts, and official communication channels to verify the details. Here’s a list of key questions to consider before making a payment:
- Is someone asking you for your personal, confidential, or security information?
- Are you being forced to take an immediate decision or make an urgent payment?
- Does the text or email you received contain poor spelling, grammar, or formatting?
- Has someone contacted you unexpectedly?
- Does the offer sound too good to be true?
- Have you been asked to keep quiet about something?
- Have any contact details been provided? If so, are there mobile or cell numbers or PO boxes?
- Does it encourage you to click on a website link in an SMS or email from an unknown sender?
- Does it ask you to reply or verify your account or information?
When completing your online bank transfer payment, you will likely be prompted to complete two-factor authentication (2FA) at the point of accessing your bank account. Two-factor authentication is a security feature that combines something you know (like your account password) with something you have in your possession (your phone). You will likely receive a notification via SMS or email with a code to enter on the screen.
When completing your credit or debit card payment, you may be prompted to verify your identity. This is part of 3D Secure (3DS), which is a security feature that helps reduce the risk of someone else using your credit or debit card without your knowing. When completing your credit or debit card payment, you will likely be prompted to authenticate yourself at the point of authorizing your card using a code sent to your phone or email.
GlobalPay for Students collects the minimum required information to complete your payment. We value your privacy, and the information you provide will only be used for its intended purpose—in this case, processing your payment. Convera abides by in-country regulatory frameworks such as the U.K.’s Data Protection Act of 1998 and the General Data Protection Regulation (GDPR) in Europe, for example.
Convera takes compliance and fraud prevention very seriously, and our program is managed by qualified professionals, including former risk and compliance officers from large banks, law enforcement, and regulators. We have robust measures in place to maximize the security of every transaction, including:
- Real-time sanctions screening of all processed transactions against international sanctions lists using innovative technology.
- Dedicated professionals to create, implement, and monitor critical controls to mitigate risk.
- Proprietary credit fraud screening built into GPFS leverages data from 40 billion transactions
- A defined roadmap for real-time fraud controls focused on mitigating incidences of tuition fee fraud.