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Active-duty service members, National Guard personnel, veterans, and their families lost nearly 25 percent more money to scammers in 2024, with reported losses totaling $584 million,
according to consumer complaints filed with the Federal Trade Commission (FTC) and detailed in the 2024 Consumer Sentinel Network Data Book. Veterans continue to face higher individual
losses than the general consumer population, with a median fraud loss of $700 — well above the $497 median reported across all FTC complaints. However, older adults, including retired
veterans, accounted for the biggest losses, with individuals 80 and older reporting the highest median loss at $1,650. Overall, Americans reported losing a record $12.5 billion to fraud last
year — up 25 percent from 2023. THE COSTLIEST SCAMS TARGETING VETERANS Instances of fraud reported from the military community increased by 6 percent in 2024, reaching 99,443 cases,
according to the FTC. The most reported types of fraud were: * IMPOSTOR SCAMS: Criminals posing as trusted individuals or organizations to steal personal information accounted for the
highest number of fraud reports. Although 44,587 reports of impostor scams were reported, 23 percent resulted in financial loss. * ONLINE SHOPPING SCAMS AND NEGATIVE REVIEWS: Hidden fees,
delayed or non-delivery of purchases, refusal to honor guarantees, and businesses preventing customers from leaving honest reviews made this the second most reported scam. It also had the
highest “success” rate against the military community, with 76% reporting a financial loss. * BUSINESS AND JOB OPPORTUNITY FRAUD: Scams involving fake franchise opportunities, work-from-home
schemes, fraudulent job listings, and deceptive employment services ranked third in frequency. Yet, these scams resulted in the highest individual losses, with service members reporting
losing a median of $2,250 per incident. IDENTITY THEFT AND OTHER FINANCIAL COMPLAINTS Instances of identity theft remained relatively steady, with 310 fewer military complaints than the
previous year. The top three forms of identity theft were: * Credit card fraud * Loan or lease fraud * “Other” identity theft, which the FTC defines as using another person’s email or social
media account, opening or misusing online payment accounts, committing crimes under someone else’s identity, or obtaining medical care or insurance fraudulently. Additionally,
military-related complaints under the FTC’s “other” category surged by 20 percent from 2023, reaching 75,652 reports. The top three issues in this category involved: * Credit bureaus * Banks
and lenders * Debt collection practices LOSSES AND SCAM TRENDS ACROSS THE MILITARY COMMUNITY By military status, veterans and retirees reported the highest number of fraud complaints and
the greatest total losses in 2024, amounting to $419 million. However, active-duty service members experienced the highest median fraud loss at $920 per individual case. Across military
branches, Space Force personnel reported the largest median fraud loss at $1,300 per incident. Meanwhile, the Army led in both the volume of fraud reports and total financial losses, with
soldiers and their families losing $217 million.