Protecting Yourself from Veteran Scams — VUB Financial Readiness Course

Veterans lost $584 MILLION to fraud in 2024. 27% of all veterans have lost money to a scam.

The Top 4 Threats

⚠ Claim Sharks

What:: Unaccredited individuals charging $3,000–$10,000+ to file VA claims
Why it's wrong:: VA claims assistance is FREE through accredited VSOs
Red flag:: Anyone asking for upfront payment to file a VA claim
Protect:: Use only VA-accredited representatives (DAV, VFW, American Legion)

⚠ Pension Poaching

What:: “Advisors” restructure your assets into annuities to qualify you for VA pension
Why it's wrong:: The VA has a 36-month lookback — you may be required to repay all benefits
Red flag:: Anyone suggesting you move money into trusts or annuities to qualify for VA pension
Protect:: Consult an accredited VA attorney, not a financial product salesperson

⚠ VA Impersonation

What:: Phone/email/text scams claiming you owe money or must “verify” your account
Why it's wrong:: The VA will NEVER call demanding immediate payment or threatening arrest
Red flag:: Urgent calls demanding payment, requests for SSN or bank info by phone
Protect:: Hang up. Call the VA directly at 1-800-827-1000

⚠ Predatory Financial Products

What:: High-fee annuities, whole life insurance, crypto sold to veterans receiving lump-sum back-pay
Why it's wrong:: These products often have high surrender charges and don't serve your interests
Red flag:: High-pressure sales tactics targeting recently rated veterans
Protect:: Never make major financial decisions under pressure. Get a second opinion

Report It — Know Who to Call

📞 If You Suspect Fraud, Act Now

Who to Call	Number / URL
VA Inspector General	1-800-488-8244
FTC Fraud Report	reportfraud.ftc.gov
VA Benefits Hotline	1-800-827-1000
Find a VSO	va.gov/vso
Adult Protective Services	Contact your state/county

5 Rules to Protect Yourself

✅ Your Personal Protection Checklist

Never pay for VA claims assistance — it's always free through VSOs
Verify anyone offering benefit help at va.gov/vso
Never give personal/financial info to unsolicited callers
Don't make major financial decisions under pressure — sleep on it
Set up a “trusted contact” at your bank (free, takes 5 minutes)