BBB: Warns of several military scams
Last week Better Business Bureau issued an alert about a fraudulent website targeting members of the military by mimicking the U.S. Army’s benefits website in an attempt to steal personal information.
The “My Army Benefits” website at usmilitarybenifit.org is a fraudulent site designed to “collect soldiers’ Army Knowledge Online, email accounts and passwords.”
The site also falsely claimed that “the U.S. military has granted access to unclaimed and accumulated benefits for active duty soldiers, and that benefits not claimed within the stipulated period will be available for claims after 60 months,” according to investigators.
The Army was able to shut the website down quickly and issue a warning, but the Better Business Bureau of El Paso wants to remind you of some of the other scams that fraudsters often use to target the military.
High priced military loans — Advertisements for loans that promise a guarantee, instant approval or no credit check will often come with hidden fees and extremely high interest rates.
Remember that legitimate lenders will never guarantee a loan before you apply and loans that require an upfront fee are likely a scam.
Veterans’ benefits buyout plans – This buyout plan will offer a cash payment in exchange for a disabled veteran’s future benefits or pension payments.
The cash amount is only about 30-40% of what the veteran is entitled to.
These buyout plans can be structured in several different ways, so research thoroughly before signing anything over.
Misleading car sales – Websites posting classified ads will offer false discounts for military personnel or claim to be from soldiers who need to sell their vehicle fast since they have been deployed.
Upfront fees will be required via wire transfer, or the vehicle will have problems after purchase.
Expensive life insurance policies – Members of the military are often the targets of high pressured sales pitches that offer unnecessary, expensive life insurance policies.
Solicitors may make false statements regarding the benefits that these policies offer.