In recognition of Military Consumer Month, the Better Business Bureau Institute for Marketplace Trust and the Association of Military Banks of America will release a new report later this month on military consumers and marketplace trust.
According to the recently published 2018 BBB Scam Tracker Risk Report, military consumers lose significantly more money to scammers than non-military consumers. When exposed to a scam, the losses are greater at $200 vs. $150—a 33% difference.
We honor BBB Scam Tracker heroes: those who bravely share their story, regardless of whether they lost money or not. Our research shows that half of those who report a scam did so to warn others.
One of the ways scammers trick military veterans is by saying they are with the government. Read more about government imposter scams.
Of those that shared their story on BBB Scam Tracker, 15 percent of those reporting an employment scam lost money. The median loss was $1,715—nearly double that reported across all consumers.