A few common scams that target military members include:
• High-priced military loans
• Veterans’ benefits buyout plans
• Fake rental properties
• Expensive life insurance policies
In 2020, active-duty service members lost more than $190,000 to scammers across the United States, according to reports generated by BBB Scam Tracker. Veterans across the nation were impacted to an even greater degree, with over $270,000 lost to fraudulent business practices. While the vast majority of money was lost to online purchase scams, employment, COVID-19 and phishing scams were also prevalent. Additionally, 49% of scam victims were over the age of…
