Mark Majestic, the Social Security Administration’s Associate
Commissioner for the Office of Program Integrity, offers the below information:
Did you know that fraudsters target veterans, active-duty
service members, and their families at a higher rate than they do civilians?
They are also 40% more likely than their civilian counterparts to lose money to
scams and schemes.
Why? Fraudsters
follow the money. Service members receive a steady paycheck, and many veterans
receive regular benefit payments.
Fraudsters
frequently use military jargon and specific government guidelines to craft an
effective pitch to extort money. AARP reports that the most common scams are:
Pension Poaching
An unethical
adviser may promise to help veterans increase their retirement savings or
receive extra benefits from the Department of Veterans Affairs (VA). Be wary of
anyone offering to move your assets to qualify for a VA pension. Check the VA’s searchable
database or call 855-578-5492 to determine if an attorney
or financial professional is VA-accredited and has the necessary training to
complete and submit claims.
Benefits Buyout
A fraudster may
offer a payment in exchange for military disability or pension payments. The
one-time payment never materializes or is significantly lower than the value of
the benefit. To avoid falling victim to this scam, make sure to apply directly
– free of charge – to the VA if you think you are eligible for the agency’s Aid
and Attendance benefits.
Records Scheme
A fraudster may try
to charge you for using or updating Direct Deposit Form 214 – even though this
form is free. The VA will never ask for personal information by phone, text, or
email. If you are contacted by someone who claims to be from the VA and asks
for personal information, such as your Social Security number, do not respond
and hang up. Call the agency directly at 1-800-MyVA411 (800-698-2411).
Fake Veterans’ Charities
A fraudster may
pretend to represent a fake veterans’ charity or cause that claims to raise
money for struggling veterans and military families. But the fraudster pockets
the money, taking donations away from legitimate charities that serve veterans.
Research an organization before donating. Check out CharityWatch.org or CharityNavigator.org.
‘Special’ Military Deals
There are
legitimate discounts honoring the contributions of service members and
veterans. A fraudster, possibly posing as a soon-to-be-deployed service member,
may offer the veteran a special deal on cars, electronics, or other products.
They often ask for wired payments, then disappear without providing the goods.
Do not send money to someone you do not know or have only met online or over
the phone.
Fraudsters know
that a veteran’s patriotism can be an open door to their heart and wallet. They
approach veterans with appeals to military service brotherhood. Follow the tips
above to protect yourself and your family.
Victims of fraud
can report suspected fraud, waste, and abuse via the Program
Integrity Fraud, Waste, and Abuse Complaint Form, VA Form 10-0500. Scams can also be reported to
the Federal Trade
Commission (FTC), and the Inspector General Hotline at: 1-877-777-4021. Learn more on the AARP Veterans Fraud
Center page and the VA’s Fraud page.
Please share this information with the veterans and military members in your life.
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