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Scams

Current Scams Targeting Veterans

September 5, 2016

   

Political Contributions:  Scammers are contacting veterans and claiming to represent a political candidate or party.  The scammers will already know your political affiliation (information on many county websites where you registered to vote). The scammers are making telephone calls posing as campaign workers seeking political donations from veterans who are lured into providing their credit card information over the phone, wiring money, providing gift cards or their bank routing numbers and account information. To give the impression that the scam is legitimate, scammers are using a telephone technique called “spoofing,” in order to make it appear that the call is coming from a candidate or political party and recordings of a candidate can also be used as a part of the elaborate scam.  Furthermore, scammers are aware that calls from political candidates are exempt even from the federal Do-Not-Call List, so it would be legal for someone to get a call from a political campaign seeking donations. The scammers will often ask a veteran for a large sum of money, but will settle for any amount.  Warning:  This scam has shown to be highly effective, in that, thousands of veterans have already fallen prey to this scam.

   

   

   

   

   

   

   

   

   

   

   

Note: The “Cash Buyout” scam also goes by the name of “Pension Advances” or “Benefits Advances.” A company will offer to buy monthly pension payments in exchange for a lump-sum payment.

  

The Fraud Watch Network gives the following advice:

  

Veterans!  Always be suspicious anytime you are asked to pay by wire transfer or gift cards. Know that the VA will never call, text or e-mail you to update your personal information. Make donations directly to the veterans’ organizations you know. And, only work with VA-accredited representatives when dealing with VA benefits; you can search for them online at the VA Office of General Counsel.

  

  

New Scam Targeting Pensions & Benefits
January 12, 2017

  

Law enforcement authorities warn of a new scam targeting the pension and benefits of U.S. veterans that puts their Medicaid eligibility at risk.

  

The scam bilks veterans out of their money by conning them into transferring their assets into a special trust account before having them wrongfully apply for extra allocations, and special programs.

 

Here’s how the new scam works:

  

Initially, the scam artists reach out to veterans posing as attorneys or financial advisers offering to help veterans with their pension allocations.

   

After securing permission to work with the veteran, the scam artists attempt to convince veterans to put their assets into trust accounts or to make investments into certain insurance products.

   

   

   

  

  

   

   

    

   

  

  

The scam artists explain that the “asset reallocation,” will allow the veteran to qualify for Aid and Attendance benefits from the Department of Veterans Affairs (VA).

  

According to VA officials, this is not true and in fact, will cause the veteran to be ineligible for Medicaid and other health care benefits programs.

  

The scammers charge enormous fees for their bogus advice, ranging from a few hundred dollars to thousands of dollars.

Veterans must remember, it is free for them to apply for benefits, and many veterans organizations will help with the lengthy and complicated paperwork.

    

If you feel you have been a victim of this scam please contact local law enforcement or the Federal Trade Commission at 1-877-FTC-HELP.