Six people have been arrested for allegedly taking part in a phishing scam that targeted hundreds of UK students.
Four men and two women were arrested by officers from the Police Central eCrime Unit (PCeU) on Thursday for allegedly taking part in the student loans fraud, which the Metropolitan Police unit said netted over £1m.
"A great deal of personal information was compromised and cleverly exploited for substantial profits," said PCeU detective inspector Mark Raymond in a statement. "We have... disrupted a suspected organised group of cyber criminals and prevented further loss to individuals and institutions in the UK."
Students were sent a link to a 'convincing but bogus' website which asked them to update details on their student loans accounts, said PCeU. Criminals then accessed the students' bank accounts, taking between £1,000 and £5,000 at a time.
The Student Loan Company, banks, and internet service providers worked with the police during the investigation, PCeU said. Officers seized computer equipment and storage media for forensic examination.
The suspects were arrested at addresses in London, Manchester, and Bolton. One man was arrested in Deptford; a man and a woman were arrested in Stratford; two people were arrested in Manchester; and one man was arrested in Bolton.