Military Consumer Protection Month, recognized every July since 2013, is an opportunity for consumer awareness, enforcement and advocacy groups to focus on the impact of fraudulent or malicious business practices on the military community. Despite the sacrifices members of the U.S. armed forces and their families make daily, they are often a preferred target for scammers and businesses employing unethical practices.
A few common scams that target military members include:
- High-priced military loans
- Veterans’ benefits buyout plans
- Fake rental properties
- Misleading car sales
- Expensive life insurance policies
According to reports submitted to BBB Scam Tracker in 2021, active-duty service members lost nearly $330,000 to scammers across the United States, a more than 70% increase in monetary losses compared to 2020. Veterans across the nation were impacted to an even greater degree, with over $2 million lost to fraudulent business practices, a 640% increase in losses compared to 2020. Additionally, 50% of scam victims were over the age of 55.
“As a liaison between businesses and consumers, BBB is uniquely positioned to provide information, guidance and consumer resources to the military community,” said Heather Massey, vice president of communications for Better Business Bureau serving the Heart of Texas. “By forming…
