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NSFAS Students Warned Of New Allowance Scam



NSFAS Students Warned Of New Allowance Scam

Earlier this year, the National Student Financial Aid Scheme announced it would increase its living allowances for students by 10%. Following this announcement, a scam targeted students receiving financial aid

NSFAS Students Warned Of New Allowance Scam

National Student Financial Aid Scheme (NSFAS) bursaries cover essentials such as tuition fees, student housing, travel costs, and living expenses.NSFAS-funded students have been targeted by a new scam targeting their monthly allowances and personal information.

NSFAS released a statement to prevent bursary recipients from falling victim to online scammers:

Please be aware of fraudulent websites and social media links that request your personal details to withdraw your allowances. 

As mentioned previously, the government bursary scheme and its payment partners will never ask a student for their login details, including their password, or to transfer money on their behalf.

In the event that a student is asked to share their personal information, this is an indication that an impersonation fraud may be taking place. In 2021, this type of crime increased by 337%.

Typically, these online scammers pretend to be authorities such as the police, government, etc, with the intention of soliciting money from individuals they contact online.

As a result, NSFAS advises its students to treat such incidents with extreme caution and report them to the appropriate authorities as soon as possible.

NSFAS-funded students have been informed of the following fraudulent websites and social media links:

  • https://chat/63465b1f4f06e12d899b51a/1gf5d7riq?fbclid=lwAR3SjHG5WYW-kucTbyjMaVmEvvMW5hkHwOk-RjXloWZ76knRwgZTBrBHvM8

Students will receive an SMS each time they carry out a transaction via their account when using the NSFAS Mastercard as of 2023. One of the benefits of having this card is that it is pin-enabled, making it difficult for non-owners to use it fraudulently.

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