ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
Home Compliance and Risk

FTC warns consumers about college tuition billing scam

September 3, 2024
Reading Time: 1 min read
FTC warns consumers about college tuition billing scam

Phone calls to college students and parents demanding immediate payment for tuition are scams that seek to trick victims into turning over their bank account information or making fraudulent payments, the Federal Trade Commission warned in a new consumer alert.

According to the FTC, scammers pretend to be from a college’s financial aid or bursar’s office and claim that a student’s financial aid fell through and that he or she can’t start classes unless they pay the full balance immediately. Other scams may claim that victims can’t access their college transcripts unless tuition is paid. Neither claim is true as colleges will not demand immediate payment over the phone.

“If someone calls and demands that you give them your bank or credit card information immediately, don’t do it. That’s a scam,” the FTC said. “And only scammers demand payment with crypto, a wire transfer service like Western Union or MoneyGram, a payment app or a gift card.”

The FTC also warned consumers not to trust caller ID as phone numbers can be spoofed. Most schools use secure student portals to post bills and let students pay safely, the agency said. “Check any tuition balance there first. Or call the financial aid or billing office directly using a number you know is legit. They’ll help you verify any outstanding balances and when you need to pay.”

Tags: FraudScams
ShareTweetPin

Related Posts

FinCEN proposes severing Cambodian firm as institution of primary money laundering concern

FinCEN severs Cambodian firm from U.S. financial system

Compliance and Risk
October 14, 2025

FinCEN finalized a rule cutting off a Cambodian firm from the U.S. financial system, with the agency saying the firm acts as a conduit for laundering money obtained through romance scams and other cybercrimes.

Executive order phases out U.S. Treasury paper checks

ABA’s Treasury check verification tool allows banks to report counterfeit checks

Compliance and Risk
October 14, 2025

The new reporting system will allow ABA to collect real-time information on counterfeit Treasury checks.

Treasury Department seeks feedback on stablecoins, illicit activities

ABA experts: Remember compliance obligations when dealing with stablecoins

Compliance and Risk
October 14, 2025

As banks explore stablecoins, they must keep in mind that Bank Secrecy Act and sanctions rules still apply, and that should guide their relationships with third parties that provide stablecoin services.

Nichols: Change is coming for compliance regulation

Nichols: Change is coming for compliance regulation

Compliance and Risk
October 14, 2025

“Change is in the air” with respect to federal banking regulation, and that change has been overwhelmingly positive, ABA President and CEO Rob Nichols told attendees at the Financial Crimes Enforcement Conference.

Report: Republicans push back against proposed cuts to CDFI Fund

Report: Trump administration to lay off CDFI Fund staff

Community Banking
October 13, 2025

The Trump administration will lay off CDFI Fund staff in December as part of a series of federal workforce reductions being implemented in response to the government shutdown, according to a media report.

ABA recognizes emerging bank leaders with inaugural awards

ABA names 2025 Emerging Leader Awards recipients

Community Banking
October 13, 2025

ABA announced the 2025 recipients of its annual ABA Emerging Leader Awards, which recognize the next generation of bank leaders who are committed to the highest standards of achievement and service to both their industry and their local...

NEWSBYTES

FinCEN severs Cambodian firm from U.S. financial system

October 14, 2025

ABA’s Treasury check verification tool allows banks to report counterfeit checks

October 14, 2025

ABA experts: Remember compliance obligations when dealing with stablecoins

October 14, 2025

SPONSORED CONTENT

Rethinking Outsourcing: The Value of Tech-Enabled, Strategic Growth Partnerships

Rethinking Outsourcing: The Value of Tech-Enabled, Strategic Growth Partnerships

October 1, 2025
What good looks like in Small Business Lending – and how to get there

What good looks like in Small Business Lending – and how to get there

October 1, 2025
The Connectivity Dividend

The Connectivity Dividend

September 1, 2025
Building Trust with Every Transaction

Building Trust with Every Transaction

September 1, 2025

PODCASTS

Podcast: Bigger data boosts financial inclusion at Synchrony

October 9, 2025

Podcast: AI and the future of BSA risk management

October 2, 2025

Podcast: The real difference between stablecoins and tokenized deposits

September 24, 2025

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.