Veterans lost $419 million to fraud in 2024
Mar. 31—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. 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 specific numbers of reported fraud and losses from the FTC's Consumer Sentinel Network Data Book 2024.
How Veterans Can Protect Themselves:
Find out about common scams, fraud prevention, reporting fraud and getting help from the VA Protecting Veterans From Fraud website.
Learn more about identifying scams and what to do from vsafe.gov. Report suspected fraud by calling the VSAFE Fraud Hotline at 833-388-7233 (833-38V-SAFE).
Helping veterans starts here. The Texas Veterans Commission advocates for and provides superior service that will significantly improve the quality of life for all Texas veterans, their families, and survivors. The TVC assists veterans with receiving their benefits, provides funding to agencies which provide direct services to veterans and provides administration of the Hazlewood Act education benefits. Learn more at www.tvc.texas.gov.
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