Educational Article
The Importance of Military Consumer Protection
As a member of the military, you and your family are prime targets for scammers, making it crucial to remain vigilant in safeguarding your personal information and finances.
Wouldn’t it be great if every scam or fraud attempt came with a convenient “decline” button, just like on your cell phone, to instantly protect you from financial harm?
Unfortunately, in the real world, it takes awareness, vigilance, and strong consumer protection measures to stay one step ahead of scammers.
This is especially true for members of the military community. FTC Identity Theft studies have shown that Service members and their families are often targets of unscrupulous businesses and are even more susceptible to scams and fraudulent activities than civilians.
Key Finding
Based on the findings of the Federal Trade Commission (FTC), active-duty Service members have a 76% higher likelihood compared to other adults when it comes to reporting instances of identity theft involving the misuse of existing accounts, such as bank accounts or credit cards.
In response to this growing problem, military consumer protection laws and regulations have been enacted to help safeguard Service members from financial exploitation. However, these laws are no substitute for a good first line of defense by you and your family.
Here are a few reasons to elevate the level of your military consumer awareness:
- Protect your financial well-being and personal safety
- Empower you to make informed decisions about products and services
- Gives you peace of mind to focus on the mission