AUSTIN – Veterans reported losing more money to frauds in 2024 than in previous years, according to new Federal Trade Commission (FTC) data released in March. Scams and frauds frequently target veterans, servicemembers, their families, caregivers and survivors, and the FTC estimated veterans lost $419 million to fraud last year in nearly 167,000 reported cases of fraud. ( https://www. ftc.gov/system/files/ ftc_gov/pdf/csn-annual- data-book-2024.pdf ). The Texas Veterans Commission and VA are working to raise veteran awareness of scams and education on how to protect against fraud, predatory practices and financial loss.
Fraudsters may seek to take advantage of veterans on a range of their assets. This includes disability compensation claims, memorial services scams, personal finances, identity theft and more. The FTC reports the most reported scam category last year was imposter scams, with losses to government imposter scams increasing. Government imposters can approach veterans in a variety of ways. This may include posing as a government entity or a disability claim filing service and contacting veterans via emails and phone, even contact through gaming. Find more information and statistics on types of fraud, plus veteran specifi c numbers of reported fraud and losses from theFTC’sConsumerSentinel Network Data Book 2024: https://www.ftc. gov/system/files/ftc_ gov/pdf/csn-annual-data- book-2024.pdf .
How Veterans Can Protect Themselves:
