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Since the first unofficial Memorial Day in April 1865, the holiday has held a special place in the hearts of military veterans, active-duty service members and the general public.
Originally known as Decoration Day until the early 1900s, Americans celebrated Memorial Day by decorating the tombs and graves of soldiers who had fallen in battle during the American Civil War.
After World War I, Memorial Day was expanded to recognize the sacrifices of all military members who had died in any American war.
Today, Memorial Day is often associated with an opportunity for families to get together for barbecues and weekend trips due to the extended weekend the holiday provides.
For many Americans, Memorial Day marks the unofficial start of summer and is spent enjoying the sun and warm weather after the rainy spring season. Companies and businesses across the nation take this opportunity to reflect on the sacrifices of military personnel and their families, often offering discounts or deals that target members of the U.S. armed forces with patriotic messaging.
Unfortunately, scammers also take advantage of this time of the year by targeting the same audience, using a patriotic or military approach to appeal to potential victims.
To protect America’s service members, BBB Military Line focuses on financial literacy training, fraud alerts and scam prevention tips for active-duty personnel, veterans and their families.
According to reports submitted to BBB Scam Tracker in 2021, active-duty service members lost nearly $330,000 to scammers across the United States, a more than 70% increase in monetary losses as compared to 2020.
Veterans across the nation were impacted to an even greater degree, with over $2 million lost to fraudulent business practices, an astounding 640% increase in losses compared to 2020.
While most of the money was lost to online purchase scams, employment and phishing scams were also prevalent.
Additionally, 50% of scam victims were over the age of 55.
To avoid scams targeting military members and the general public this Memorial Day, BBB recommends consumers follow these guidelines:
Spend the time to research a company before purchasing their services or goods. Review business profiles on BBB.org and check government websites if the service is required to be licensed.
A FEW COMMON SCAMS TARGETING MILITARY MEMBERS INCLUDE:
• High-priced military loans
• Veterans’ benefits buyout plans
• Fake rental properties
• Misleading car sales
• Expensive life insurance policies
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