Veterans and military personnel nearly 40% more likely to lose money to scams new AARP report says

Posted at 11:36 AM, Nov 09, 2021
and last updated 2021-11-09 12:12:24-05

(WXYZ) — According to a new AARP report, veterans, military personnel, and their families are nearly 40% more likely to lose money to scams and fraud than the rest of the civilian population.

The report also reveals that 4 of 5 military/veteran adults were targeted by scams that directly correlated to their military service or the benefits they receive.

In Michigan, there are 672,000 military veterans and active-duty service members.

“Our research stresses the need for Michigan’s veterans and their families to stay up-to-date on the latest scams and how to avoid them,” Melissa Seifert said.

According to AARP, scammers often use military jargon and specific government guidelines to scam military members and veterans.

Of those who lost money, the top scams reported include:

  • Benefit Buyouts: Turning over U.S. Department of Veterans Affairs (VA) pension and/or disability benefits for a supposed lump-sum payment that never materializes (47%).
  • Fraudulent records scam: Paying for updated personal military records (32%).
  • The fake charitable giving request: Donating to fake veteran charities (32%).

To make scams easier to spot, AARP’s Fraud Watch Network recommends signing up for the National Do Not Call Registry and using a call-blocking service.