If you’re a veteran, always be cautious and critical while considering car leases, loans, housing rentals, and other offers only available to veterans. The items are frequently not even reduced; some can be for nonexistent goods and services.
Today there is no shortage of scammers attempting to defraud people in person, via mail, or online. However, would you believe that Veterans are their most desirable targets, particularly those who get compensation benefits?
In fact, according to a 2017 AARP survey, veterans are, in reality, twice as likely as the general population to inadvertently take part in a scam. According to estimates, 16% of veterans say they have lost money to fraud, and 78% say fraudsters have targeted them specifically because of their military experience. Also, the average loss suffered by veterans who were victims of fraud in 2019 was close to $900, which is approximately three times as much as non-veterans. Insane!
However, do you know what the good news is? AARP has created its Veterans Fraud Center, a new education and information portal to assist protect Veterans, service members, and their families, in response to the rising number of online fraud accusations against the military community. How cool!
Want to know more about it? Continue reading; today’s news is all about it!
How Scammers Target Veterans
Before we move forward, let us tell you how scammers target veterans. Basically, criminals prey on veterans through various well-known schemes, including investment fraud, phishing scams, and identity theft, to mention a few.
For example, fraudsters frequently contact veterans through phone or email under the pretense that they are representatives of the Department of Veterans Affairs who need to update their information. The critical thing to remember is not to assume that the caller is who they say they are. Ask for their name and title when dealing with such possible con artists, and independently verify that information with the VA.
Apart from this, in a benefit scheme, dishonest advisers persuade senior veterans to invest in financial items that will make it seem like they have fewer assets to increase their pensions. The advisors frequently fail to inform veterans that these actions may prevent them from receiving Medicaid and other government assistance and severely restrict their ability to access their money. Unbelievable!
Statistics
Leading frauds targeting veterans include:
- Benefit buyouts: Giving up pension and disability payments from the U.S. Department of Veterans Affairs (VA) in exchange for an alleged lump sum that never occurs (47 percent ).
- Scam involving false records: purchasing updated personal military records (32 percent ).
- The phony appeal for donations: supporting fictitious veteran charities (32 percent ).
Some More Red Flags To Always Look Out For
If you’re a veteran, always be cautious and critical while considering car leases, loans, housing rentals, and other offers only available to veterans. The items are frequently not even reduced; some can be for nonexistent goods and services.
Also, unfortunately, some con artists pose as veterans’ supporters and assert that their victims are entitled to additional veterans benefits, according to AARP. AARP advises veterans to authenticate their state regulatory office credentials if they are solicited in this way.
AARP – The Data
Now, let’s talk about the ever-great AARP and its amazing launch.
The 672,213 active-duty military personnel and veterans of Michigan are vulnerable to scams. The AARP Veterans Fraud Center, a new online education and resource center to aid in defending veterans, service members, and their families against fraud, was officially launched by AARP today.
Starting last year, one in three active-duty military personnel and Veterans lost money due to at least one fake service-related offer.
Additionally, the Federal Trade Commission’s 2021 Consumer Sentinel Network Data Book reports a 69 percent increase in fraud attacks against the military community over the previous year (FTC). Out of those 110,827 reports of fraud, $267 million in losses were the consequence of 26% of them. Military victims individually reported financial losses that were higher than their civilian counterparts, with a median loss of $600 as opposed to $500 for civilians.
According to Troy Broussard, senior advisor for AARP’s Veterans and Military Families Initiative and a former member of the American Army who served in the Desert Storm, Scammers should not target the military community. The purpose of the AARP Veterans Fraud Center is to inform veterans and their families of current scams and how to prevent them.
If you’re a victim of a similar scam please get in touch with us to that we can help you get your money back!
Lost money to online fraud? We will recover your funds !
Free Resources & Top Tips
The Veterans Fraud Center at AARP provides free information about the most recent con games that target the military community, advice on recognizing other forms of consumer fraud, and tools specially designed to assist Veterans and military families in staying safe.
They consist of:
- A new AARP Watchdog Alert Handbook: Veterans’ Edition, highlighting tips to detect the most common ways con artists target veterans and military families;
- The AARP Fraud Watch Network and Scam-Tracking Map; and
- Operation Protect Veterans—a joint program of the AARP Fraud Watch Network and the U.S. Postal Inspection Service.
Apart from this, AARP recommends some top tips to keep yourself safe.
For example, The National Do Not Call Registry registration, and the use of a call-blocking service are two of the top recommendations made by AARP’s Fraud Watch Network. Other top recommendations include using strong and distinct passwords for each online account, using two-factor authentication when it is an option, and accessible security freezing of credit reports at each of the three major credit bureaus. Additionally, claiming that veterans must pay for their service records or earned benefits is a deception.
Veterans – This Is For You!
Visit www.aarp.org/vetsfraudcenter to find out more about the AARP Veterans Fraud Center and to download a free copy of the new Watchdog Alert Handbook: Veterans’ Edition. Visit www.aarp.org/veterans for more information on AARP’s support for veterans and military families, including caregiving, finding employment today, and accessing earned service benefits.
However, if you still ever become a victim of this type of fraud, contact GlobalPayback! Their personnel want to assist you in getting back on your feet. The laws and regulations ensure that you get the most renowned recovery service attainable and too within your desired budget! Stay safe!
Sources
- https://states.aarp.org/michigan/aarp-launches-online-resource-center-to-help-protect-veterans-against-rising-fraud
- https://blogs.va.gov/VAntage/104658/online-fraud/
- https://disabilitycosmos.blog/2022/06/27/aarp-launches-free-online-hub-to-help-veterans-fight-fraud/
- https://www.aarp.org/money/scams-fraud/info-2019/veterans.html
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