Guest Post: US military veterans lost over $560 million to scams in the last 5 years

Military veterans and their families have special government resources available to them. Unfortunately, scammers perceive these benefits as easy prey.

According to the data presented by the Atlas VPN team, US army veterans lost $563 million to scams in the last 5 years. In total, military retirees reported 556,807 cases of fraud.

Miscellaneous investment scams have cost veterans $105.5 million since 2018. Former military members reported a total of 4,206 instances of scammers offering fake investments.

Business impostors stole $71.2 million from veterans in the last 5 years. Military retirees reported 49,617 cases of scammers impersonating businesses. Fake prizes, sweepstakes, and lotteries resulted in $62.1 million in losses to veterans. FTC received 11,635 reports of such scams taking place.

Government impostors scammed $60.9 million out of veterans in the last 5 years. These types of scams were the most popular among fraudsters, as FTC received 55,449 reports of fraud.

Romance scams have cost $53.5 million to veterans since 2018. Military retirees reported 3,766 instances of such fraud. Furthermore, tech support scams cost veterans $41.7 million. In total, the FTC received 15,726 reports about romance scams.

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