Financial challenges can create stress for Veterans and their families, leading to vulnerability in the face of scams. Issues such as job loss, unexpected expenses, debt, and uncertainty around housing or food security can foster feelings of shame and hopelessness. Unfortunately, fraudsters often target Veterans during these moments, seeking to steal pension benefits, disability compensation, and other vital forms of support.
Fraudsters typically disguise themselves as legitimate entities, using sophisticated techniques to deceive Veterans and their families. Common scams include pension poaching, identity theft, phishing, and fraudulent investment schemes. These schemes often result in devastating financial losses, including a reduction in financial stability, overwhelming debt, and difficulty meeting basic living needs. Beyond the financial impact, fraud can also take a toll on Veterans’ physical and mental well-being, leading to feelings of helplessness, anxiety, embarrassment, and even suicidal thoughts.
Preventing fraud and supporting Veterans impacted by scams is a top priority for the Department of Veterans Affairs (VA). To help Veterans protect their benefits and avoid the financial stress caused by fraud, VA recommends following these guidelines:
- Never share verification codes or Personally Identifiable Information (PII) with anyone.
- Avoid sharing financial information through social media, text, or email.
- Be cautious of unfamiliar or suspicious links and attachments. Legitimate government websites will always use a .gov domain.
- Beware of requests to transfer money from bank, investment, or retirement accounts.
- Obtain a VA Security Personal Identification Number (PIN) to verify identity.
- Practice healthy cyber habits by using strong antivirus software, multi-factor authentication, and regularly updating passwords.
- Back up important documents, including military service records, medical records, discharge papers, and copies of VA claims.
For more information on protecting VA benefits and identifying fraud, visit the VA’s VSAFE website.
VA is committed to supporting veterans who are dealing with financial stress. Veterans are not alone, and numerous resources are available to help fraud survivors recover.
If you or a Veteran you know is in crisis, the Veterans Crisis Line is available 24/7 for confidential support. Contact the Veterans Crisis Line by dialing 988, pressing 1, chatting online at VeteransCrisisLine.net/Chat, or texting 838255. No enrollment in VA benefits or health care is necessary to access these services.
Veterans who notice missing payments, discrepancies, or suspicious activity in their direct deposit accounts should contact VA immediately at 1-800-827-1000. Additionally, if an entity is found spreading misinformation or practicing questionable business tactics, complaints can be filed with the Federal Trade Commission (FTC) at reportfraud.ftc.gov.
