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CHIPS Articles: How to identify and avoid scams that target the military community

How to identify and avoid scams that target the military community
Military consumers lost more than $25 million to imposter scams in 2017
By CHIPS Magazine - June 29, 2018
The Federal Trade Commission and its federal, state and local partners announced that its month-long recognition of military consumers, Military Consumer Month, kicks off July 1. This year the FTC is focusing on fighting imposter scams.

An imposter scam occurs when a fraudster pretends to be someone you trust to convince you to send money or personal information. For instance, imposters may say they are calling from a government agency or from a business with online technical support experts. Scams can include mortgage, investor and loan schemes. Other scammers lure unsuspecting victims by posing as legitimate users of online dating sites, or falsely claiming there’s an emergency with a friend or family member.

The FTC reports that there are websites that target retirees, veterans and job seekers; scammers use them to find people to rip off.

Although these scams can happen to anyone, the FTC’s most recent data found that military consumers reported losing more than $25 million to imposter scams in 2017, with a median loss of $699 – higher than the $500 median loss reported by the general U.S. population.

During Military Consumer Month, the FTC will post weekly tips for service members, veterans and their families about some of the most common imposter scams, and participate in Twitter chats and Facebook Live events with its partners.

For more information, visit www.militaryconsumer.gov.

The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about consumer topics or file a complaint if you have been scammed consumer complaint online or by calling 1-877-FTC-HELP (382-4357).

FTC’s fraud can happen to anyone image.
FTC’s fraud can happen to anyone image.
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