The front lines of fraud: Military consumers hit hard by scams
BBB: Many victims are too embarrassed to report the fraud
(InvestigateTV) — A t report from the BBB Institute for Marketplace Trust, the Association of Military Banks of America, and Zelle found that the men and women who serve our country are increasingly falling victim to scams and subpar marketplace behavior.
According to the report, military consumers reported a higher median dollar loss to scams compared to the general public, typically losing $196 compared to the $130 loss the general public incurs.
Those aged 18 to 24 were particularly vulnerable, experiencing the highest levels of both susceptibility and median losses. In addition, 44% reported losing confidence and peace of mind after being targeted by a scam.
Melanie McGovern with the Better Business Bureau said employment scams are also a growing concern for military families.
“We know that the military community moves a lot,” McGovern noted. “So, that work at home opportunity seems like it’s a great job. They can stay home. They can keep that job if they have to move, and unfortunately, scammers know that.”
When it comes to the volume of complaints, car dealerships top the list for military consumers.
“They’re pressured to make a decision,” she shared. “They might not know what they have to do at the point of sale. So that’s where it gets dicey.”
The BBB said even those that don’t lose money should share your experience with officials. Reporting helps document scams and can prevent others from falling victim to the same traps.
McGovern encouraged service to report any scams to both the BBB Scam Tracker and the Federal Trade Commission Report Fraud website if they feel like they’ve been targeted.
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