Our veterans and active military are special people. They have stepped up to serve our country, guard us, and protect our way of life. They are there – wherever “there” maybe. They are called to serve, and I have not yet met a service member who took that call lightly. They are our heroes. They are our American veterans.
Those who have dedicated their lives to protecting us now need protection from con artists. According to the Federal Trade Commission, the median loss for military scam victims in 2019 was $894, nearly triple that for the population at large.
Scammers will con service personnel and veterans using veteran-focused angles on every known scam. The goal is, of course, to gain access to government benefits.
Veterans may be told they qualify for money from “secret” government programs. In order to access the program, they must pay a fee or provide personal information.
Scammers may exploit the veteran who is having financial difficulties by offering cash in exchange for future disability or pension payments. Of course, those payments are much higher.
Some scammers will attempt to charge veterans for access to their service records or for government forms. Veterans can get this information free from the Department of Veterans Affairs or National Archives.
There are benefits schemes in which less than honest advisers sell older veterans on plans to increase their pensions by investing in financial products. They make it seem that the veteran has fewer assets than they do. They may not warn veterans that they may be disqualified from other government assistance including Medicaid, and may limit their access to their money.
“Affinity fraud” occurs when scammers claim to be fellow service member, or they will claim to be representatives of veterans’ organizations to gain access to information and trust. They will try to cash in on the closeness that veterans feel toward their fellow veterans.
Fake charities hit up former service members for donations. Phishers who claim to be VA officials ask for personal information saying they need to update records. Scammers pretend to be from Tricare, the health care program for military personnel, retirees, and their families. Fake ads for rental properties offer discounts for veterans and active-duty personnel with targets being instructed to wire money for a security deposit for non-existent property.
Pension poaching is a financial scam that targets veterans who may be eligible for VA benefits such as a veteran’s pension, survivor’s pension, or Aid & Attendance and Housebound benefits. Beware of pension poachers who want to move your money around to qualify for benefits, or who claim your benefits can be deposited in a caregiver’s account, charge for assisting with a VA pension claim, or charge you upfront to represent your claim with the VA.
Be cautious. Do not share personal information. If you have questions about your VA benefits, contact the VA or your local Veterans Representative. Thank you so much for your service.
