MARKETWATCH – Fraudsters often focus on veterans because of the benefits and programs available to them. Government officials and the Department of Veterans Affairs warn that scams are on the rise. The FTC received 150k+ reports of scams from veterans and military retirees that cost them over $414 million in 2022, up 50% from 2021.
- Romance Scams – target widows and widowers. "If you are a senior citizen and a veteran, scammers have more than one way to play on your heartstrings," said Mark Kapczynski, of OneRep, a service that helps people remove personal information from the web.
- Imposter Scams – Fraudsters masquerade as a government agency or company helping veterans access programs. Charging for military records – Unscrupulous actors have sometimes set up and advertised sites where one can collect military service records or medical records for a fee.
- Military pension fraud – Veterans' pensions are a big target for scammers. Most of these offers propose to invest money for a fee.
- Mortgage fraud – Illegitimate agents get veterans to refinance their loans for high fees. Some fraudsters ask to sign over title of a property!
by Lukas I. Alpert
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