A Scamicide reader recently forwarded to me an email that informed her that unclaimed money from a source not indicated was being held on her behalf and she needed to respond to the email in order to claim the money. This particular email was a total scam, however, you may receive a “legitimate” email or letter informing you that there are billions of dollars of unclaimed or abandoned money being held by the states and federal government and that some of that money is yours. For a fee, the person or company contacting you will assist you in locating that property and claiming it for you. In some instances, the letter or email may appear to come from the National Association of Unclaimed Property Administrators which is a legitimate organization, but not one that initiates communications to individuals whose funds they are holding.
The truth is that various state and federal agencies are indeed holding more than 24 billion dollars of unclaimed money that is waiting to be retrieved by the rightful owners. State laws require financial institutions, such as banks, to turn over money from inactive accounts. Among the assets held by these agencies are savings and checking accounts, stocks, uncashed dividend checks, certificates of deposit and utility security deposits. However, you don’t need the help of these companies contacting you offering their assistance in order to retrieve your unclaimed assets.
The “legitimate” companies that may contact you offering to assist you in getting back your missing money do not have any specific information as to what you are owed because of privacy regulations that prohibit them from obtaining that information.
The best place to find a helping hand to assist you in locating and getting back your abandoned property is at the end of your own arm. Go to the website of the National Association of Unclaimed Property Administrators at www.unclaimed.org where you can link on to the website for your own state’s agency that deals with abandoned property and take the steps necessary to claim your abandoned property at no cost to you. Other useful websites for locating money that you may be owed include www.irs.gov, the website for the IRS where you can find tax refund money you may be owed and www.pbgc.gov, the website of the Pension Benefits Guaranty Corporation, a federal agency that holds unclaimed pension funds. Finally, the federal government has a very convenient website with links to your state’s unclaimed property office, the Department of Labor where you can find if you are owed back wages from your employer and pensions from former employers, VA Life Insurance information, tax refunds, matured but uncashed savings bonds and more. Here is the link to that website. https://www.usa.gov/unclaimed-money?utm_campaign
For those of you receiving the Scam of the day through an email, I just want to remind you that if you want to see the ever increasing list of Coronavirus scams go to the first page of the http://www.scamicide.com website and click on the tab at the top of the page that indicates “Coronavirus Scams.” Scamicide was recently cited by the New York Times as one of three top sources for information about Coronavirus related scams.
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As we start the new year, I have a favor to ask of Scamicide readers. Please urge at least one of your friends and family to subscribe to Scamicide.com. There is no cost and it is easy to do. Scamicide subscribers get the very latest important information about scams, identity theft and cybersecurity which can go a long way toward keeping you safe from these threats. The more people we can help, the better. Best wishes for a safe and healthy new year.