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Military Veterans and retirees reported $66 million in fraud losses in 2020, according to Federal Trade Commission (FTC) data. Fraud is the second-most-costly white-collar crime in America. These crimes add up to billions of dollars in fraudulent insurance claims every year. Even if you haven’t suffered a direct loss, you are still a victim of insurance fraud. Not only does fraud cause higher insurance premiums, but it also raises taxes and inflates prices for consumer goods.
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