Veterans: You Protected Our Nation, Now Protect Your Assets

Law IACby La’ Nise Harrington, Spring 2017 Student Intern

Unfortunately, our nation’s protectors are at times the very people who are targeted for scams. The scams are usually one of two types: those that offer special treatment for veterans and those that prey on unique veteran characteristics. Here, are the seven most common veteran scams as identified by Scambusters.org:

  1. Special “deals” for veterans
  2. Phishing
  3. Misleading investment advice
  4. Charging for military records
  5. Nigerian Scams
  6. Charity Fundraising
  7. Selling fake products

Veterans should be cautious of all these scams, but stay alert as scammers are constantly reinventing new ones. In fact, one of the latest is a telemarketing scheme offering an “opportunity” to invest in e-commerce websites. The callers will say it is a “risk-free” money back guaranteed business investment. Sounds too good to be true? It is, because when it comes time to collect your money there is no way to contact the company.

Veterans should be cautious of any phone call from any person they do not know, especially if you are on the Do-Not-Call List. If you receive a phone call from an unknown person asking for money, HANG UP! Chances are it’s a scam, this includes callers who say they are from the IRS, Veteran Affairs or even charities. Veterans should also verify the source of any kind of preferential treatment. For more information on this scam and others please visit the military consumer website.