HONOLULU (KHON2) — July is Military Consumer Month, according to the Federal Trade Commission. It’s an annual education opportunity for military members, veterans and their families to learn how to protect their money and peace of mind by avoiding military-related fraud.
The local Better Business Bureau echoes the importance of Military Consumer Month with timely insight and tips of their own.
According to BBB’s Cameron Nakashima, BBB received 305 scam reports in 2024 from active duty military members and veterans who live in Hawaii. The total was $23,000 in losses.
Federal Trade Commission data reported scammers have taken $1.4 billion from veterans across the U.S. over the past five years.
The reason?
Scammers target veterans because they often have a guaranteed income from pensions or disability payments – making them a prime candidate for identity theft, fake investments and other scams.
Many scams prey on veterans’ benefits, promising help accessing VA services for a fee, even though these services are free through official channels. This is one way scammers get precious private information.
Avoiding a scam
Nakashima suggested the following tips to protect against scammers:
- Always verify offers and organizations. If someone claims to be with the VA, hang up and call the VA directly to check.
- Research recent scams, legitimate businesses and charities before donating using BBB’s Wise Giving Alliance at Give.org.
- Report scams to BBB Scam Tracker to warn others and help investigators stop scammers targeting the military community.
- BBB offers resources specifically for veterans and active duty military families on their website, including scam prevention guides. Knowing what to watch out for ahead of time is one of the best ways to protect yourself – prevention is the best cure.