As we approach Veterans Day, honoring those who have served our country goes hand-in-hand with raising awareness about protecting veterans from various types of scams. Veterans are often targeted by fraudsters who exploit their sense of duty, financial needs, or government benefits. These schemes can lead to significant financial loss, and worse, a breach of trust that can impact veterans’ wellbeing. Understanding these scams and knowing how to avoid them is essential, both for veterans and their families.

1. VA Benefits Scams

Some fraudsters falsely claim to be affiliated with the Department of Veterans Affairs (VA) or offer to “help” veterans access or boost their VA benefits. They might charge a fee for these supposed services, even though applying for VA benefits is free. Scammers may also ask veterans to provide personal information, like Social Security numbers, which can be used for identity theft.

How to Avoid It: Veterans should be cautious of anyone requesting payment to help with VA benefits applications. Working directly with the VA or using a VA-accredited representative ensures that their information is safe and the services are legitimate.

2. Phony Charities

Many fraudulent charities use patriotic or veteran-related language to tug at heartstrings, especially around Veterans Day. They may claim that donations go to support veterans or military families, but in reality, very little—if any—of the money is directed to legitimate causes.

How to Avoid It: Before donating, check the legitimacy of the organization through resources like Charity Navigator or the Better Business Bureau’s Wise Giving Alliance. Veterans and their families can also verify if the charity is registered as a 501(c)(3) nonprofit with publicly available financial information.

3. Fake Job Offers for Veterans

Job scams often target veterans by offering work-from-home positions or claiming to have special opportunities tailored to former military personnel. Scammers may ask for personal information or upfront payment for “training” or “certification,” only to disappear once they have what they need.

How to Avoid It: Be wary of job offers that require payment upfront or ask for personal information early in the application process. Veterans seeking employment should work with verified veteran employment services, such as those offered through the VA or reputable employment agencies specializing in military-to-civilian transitions.

4. Imposter Scams Targeting Veterans’ Families

Fraudsters may impersonate veterans or VA representatives and contact family members, claiming that there are issues with benefits or that money is needed urgently. These scams rely on the emotional urgency of the situation and the natural response to want to help.

How to Avoid It: Families should verify any requests through official channels before providing any information or payments. The VA will never call or email asking for immediate payment, especially in cases involving supposed “emergencies.”

5. Investment Scams Aimed at Veterans

Veterans are sometimes targeted with offers for “special” investments or guaranteed high returns. Scammers exploit the trust veterans have in fellow service members or their desire for financial stability. These investments can include Ponzi schemes, where early returns are paid out using new investors’ money rather than legitimate profits, leading to substantial losses.

How to Avoid It: Veterans should approach any investment opportunity with caution. Consulting with a trusted financial advisor, especially one who specializes in working with veterans, can provide an additional layer of protection against these scams.

6. Housing and Pension Scams

In pension poaching schemes, scammers pose as financial advisors or attorneys and offer to help veterans qualify for VA pension benefits, sometimes by transferring assets. They may also charge fees for “repositioning” assets to make veterans eligible for benefits or charge for access to public information about benefit eligibility.

How to Avoid It: Veterans should work with accredited VA representatives and avoid any advisors who charge fees for accessing information or transferring assets.

How CFEs Can Help Veterans and Their Families

Certified Fraud Examiners (CFEs) can play an essential role in supporting veterans by offering fraud prevention education, hosting informational sessions on common scams, and working with veteran service organizations to provide fraud awareness resources. CFEs can also collaborate with community groups, offering expertise in fraud detection and prevention and helping veterans to protect their finances from these threats.

Final Thoughts

Scams targeting veterans are not only financially damaging but also undermine trust and take advantage of individuals who have served our country. Educating veterans and their families on these common scams and providing guidance on identifying red flags can make a meaningful difference in safeguarding their finances and well-being. This Veterans Day, let’s share these insights to honor and protect those who have selflessly served.