Markets Wired

The Federal Trade Commission and its federal, state and local partners announced today that its month-long recognition of military consumers, Military Consumer Month, kicks off on July 1. This year, the agency and its partners will focus on the fight against imposter scams.

“Empowering servicemembers, veterans, and their families is a top priority,” FTC Chairman Joe Simons said. “During Military Consumer Month, we will highlight the agency’s resources to help the military community avoid imposter scams – but our work on behalf of those who serve continues throughout the year.”

This year the FTC is focusing on fighting imposter scams. An imposter scam, when a con artist pretends to be someone you trust to convince you to send money or personal information, can take many forms. For instance, imposters may say they are calling from the government or from a business with technical support expertise.

Although these scams can happen to anyone, the FTC’s most recent data found that military consumers reported losing more than $25 million to imposter scams in 2017, with a median loss of $699 – higher than the $500 median loss reported by the general U.S. population.

During Military Consumer Month, the FTC will post weekly tips for servicemembers, veterans and their families about some of the most common imposter scams, and participate in Twitter chats and Facebook Live events with its partners.

For more information, visit www.militaryconsumer.gov.

The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about consumer topics and file a consumer complaint online or by calling 1-877-FTC-HELP (382-4357). Like the FTC on Facebook, follow us on Twitter, read our blogs and subscribe to press releases for the latest FTC news and resources.