Two Scams Aimed at Veterans

The US Postal Inspection Service and AARP are warning former and current military members about scams aimed at Veterans, including fake charitable giving requests, and Veterans benefit or pension buyouts.

Fake charities that claim to benefit Veterans are a proven strategy for scammers, and often use names that sound like authentic organizations. Be wary when you are asked to donate to charities with the word “Veterans” in their name, and  check out their name and reputation on sites like the Better Business Bureau’s Wise Giving Alliance, Charity Navigator or Charity Watch

A Veteran’s benefit or pension buyout pays the pension holder a lump sum, in exchange for a portion of future pension payments. This “quick fix” can easily eat into your retirement income when you start paying back the advance, along with high interest rates and fees. Once again, these organizations often use patriotic-sounding names or logos.

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