More Scams Appear to Target Veterans

Military veterans returning to civilian life face many challenges as they encounter a stagnant economy. Those problems came be even more challenging when scammers try to take advantage of them.

One scam making the rounds targets veterans who are looking for a job. A flood of ads, e-mails and letters are showing up in mailboxes, from scammers posing as United Nations officials promising jobs to returning military members.

The catch? The applicant must pay an upfront fee. In some of the schemes, the scammer tries to get the veteran to reveal personal information, holding out the promise of a prize of some sort.

The UN, of course, says it would never ask potential employees for money or private information during recruitment. The UN advises that, if you receive one of these emails, do not click on any links. And the best rule of all, if a "recruiter asks for money, it's a scam.

Investment schemes

Scammers are also targeting veterans with investment schemes. They usually try to pass themselves off as "investment advisors" or "veterans advocates," showing up at community centers, senior homes and assisted living facilities and taking aim at veterans.

The scammers try to convince veterans to move their assets into an irrevocable trust in order to appear impoverished and qualify for additional VA benefits for everyday living expenses. In doing so, the scammers can earn up to a 15 percent commission on the assets transferred.

"While the VA doesn't look back at a veteran's asset trends, Medicare does, and this type of unwise investment move may compromise future eligibility," said Ohio Attorney General Richard Cordray. "Plus, the risk level of the trusts often is too high and inappropriate for older investors."

To protect against this scam, research the organization before agreeing to anything, even if it has an official sounding name. Search the group's name online, to see what others have to say about it.

Don't assume presenters at nursing homes, community centers or assisted-living facilities are legitimate. Staff members of such facilities have not always done adequate screening.