VETERAN FRAUD RISK IS RISING - HERE’S HOW TO PROTECT YOURSELF FROM SCAMS


By bblouin
Written on a chalkboard on top of a desk is the word fraud. Veteran fraud is dangerous and on the rise.

The U.S. Department of Veterans Affairs (VA) knows all too well the damage that fraud can do. Most of the time, the VA is working to protect itself and Veterans from the damage of illegitimate claims. But as we are rounding out the last quarter of 2023, the spotlight is on particular types of fraud that target Veterans themselves. There's a great deal of concern involving the ramped-up efforts of benefits and assistance Veterans are rightfully receiving. Veteran fraud is undoubtedly on the rise as scammers are expanding their reach to target these benefits. Learn how the VA is helping, what to look for, and how to stay safe. Related read: Fat Leonard is the $35 Million Navy Corruption Scandal That Just Won't Die

The VA Wants You to Be Aware of Veteran Fraud

The VA continues to warn of an increased risk of Veteran fraud as the organization is expanding benefits to Veterans. Furthermore, this provides an opportunity for scammers looking to score. Now, the VA is pushing to inform the Veteran community of the issue and the resources available. There have been well over 12,000 potential fraud cases in the latest fiscal year. This comes after the issuing of financial benefits linked to serving where burn pits were active. The PACT Act performance has been strong, and over 1,160 victims have received help from the VA so far in regard to their benefits and fraud claims. This issue is receiving more and more attention as the scammer list grows longer each day. Unaccredited third-party businesses are claiming to help Veterans while in reality they aren’t authorized, necessary, or legal. Around 2.3 million VA disability claims have occurred during FY 2023, which is a record. As more and more predatory actions are being taken against the Veteran community, it’s important that those who may be vulnerable remain vigilant in the fight against Veteran fraud. Suggested read: The PACT Act 2023 Special Enrollment Period is Ending in September

Beware of Imposters

While there are a range of scams and frauds affecting seniors, impostor scams are of particular concern to the VA. Veterans can be vulnerable to these attacks as they are the most commonly reported to the FTC. An imposter scam works by making contact with someone while the scammer pretends to be someone they are not. They aren't going to pretend to be a celebrity or anyone unrealistic, but an agency or organization that makes sense to work with members of the military and Veterans. Reaching out through phone, email, text, or social media is the most common method, instead of using proper channels. That's why this type of Veteran fraud is so effective. It's casual, unassuming, and casts a wide net through everyday communication tools. Scammers impersonate trusted entities, pretending to be someone from a government agency, a noted business, beloved charities, or a debt collector. Scammers that are sophisticated enough will even be able to impersonate your own friends and family. Some use urgency in their messaging, like telling you that you owe money because of overdue bills, have compromised accounts, or are experiencing technical issues. Others will provide you with positive news, such as lottery wins or grants. However, either way, Veteran fraud scammers will demand immediate payment, bank account information or other personal information, such as your Social Security Number (SSN). The payment is usually made through wire transfers or gift cards. While scammers may be quick or leisurely in how they build their relationship with you, you'll note that there are always realistic excuses and that the methods of payment they insist upon are untraceable.

Resources to Protect Yourself From Veteran Fraud

Some of the specific risks in the Veteran community involve owed payments, trouble with accounts or accessing benefits, people posing to be workers to help receive benefits, and other similar financial issues. Protecting Veterans from fraud is exactly what the VA has been doing for years. Additionally, the online tools can connect you with legitimate workers who can help in a variety of ways. You can even report Veteran fraud. It doesn’t matter if you are having problems understanding your benefits or accessing them, the VA continues to ramp up its personnel to provide you with the resources you need to overcome obstacles without risky third parties. You can file a VA claim, receive important information about your benefits, and much more with the help of an informed professional. The risk of Veteran fraud is on the rise. Remember to act accordingly, protect your information, and use common sense when conducting your business. Read next: Learn How To Protect Yourself Against 4 Common Military Scams


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