New Survey Shows Which Military Members Get Scammed the Most – By Dorothy Mills-Gregg (Military.com) / Dec 27 2019
Bank and lender scams bilk troops and veterans out of the most money — an estimated $112 million since 2012 — but job scams and identity theft are the most commonly reported, according to a new survey.
Compiled by technology consumer review website Comparitech, the report also found that a little over half of the 1 million service members, veterans and military family members who have been scammed in the last seven years were affiliated with the Army.
Researchers used media reports and data from the Better Business Bureau and the Federal Trade Commission to break down who in the military was getting scammed — to the tune of a combined $405 million during the survey period — and what the most common scams were.
Last year saw the highest number of reported scams: 389,308 in total. Nearly 70% of those reports were related to phony recruiting websites directing prospective enlistees to for-profit schools instead of the military.
A $92 million scandal involving the lending company Rome Finance, which affected 17,000 service members, contributed to 2014 becoming the most expensive scam year, and put bank and lender scams at the top of the list in terms of cost to troops and veterans.
Continue to article: https://www.military.com/daily-news/2019/12/27/new-survey-shows-which-military-members-get-scammed-most.html
